MILAN — Supported by an expanding distribution network, the success of its Attimo men’s line and the introduction of its new Signorina feminine fragrance, Ferragamo Parfums ended 2011 with a 25.7 percent growth in revenues over the previous year, up to 58.4 million euros, or $77.8 million at current exchange.
This story first appeared in the March 28, 2012 issue of WWD. Subscribe Today.
The company increased distribution from approximately 13,000 doors to more than 15,000 doors worldwide, including duty free markets. The fragrance business represents 5.9 percent of the Salvatore Ferragamo Group’s total revenues.
According to the company, Asia remains a vital region, although there was a double-digit boost in Europe in line with the company’s overall growth. That is thanks largely to a strong showing in Italy and Russia, where chief executive officer Luciano Bertinelli said there is a “strong future.”
“Already the Russian market is very receptive to fragrances,” he said, adding that designer perfumes hold steady appeal with Russian luxury consumers.
Ferragamo Parfums’ recent success rides on fragrances such as the woody, oriental Ferragamo Attimo Pour Homme, which on March 9 won prizes for best men’s fragrance made in Italy and best men’s fragrance from an Italian brand at the Accademia del Profumo awards ceremony in Bologna, Italy.
The newly launched feminine fragrance, Signorina, which targets 18- to 30-year-old women, is expected to contribute significantly to growth in 2012, according to Bertinelli.
“We are extremely satisfied,” he said, noting the end of 2011 — when a selective early distribution of Signorina began — saw a “final rush” in revenues that exceeded already optimistic company predictions. “Our expectations are very high [for 2012],” Bertinelli added.