Salvatore Ferragamo, the renowned Italian luxury brand, has reported a remarkable net income of 40 million euros for the first three quarters of the fiscal year, showcasing its impressive recovery from the disruptions caused by the Covid-19 pandemic. This significant improvement is particularly evident in the brand’s performance in Asia and the United States.

Compared to the same period last year when the company suffered a loss of 96 million euros, primarily due to the impact of the health crisis, Salvatore Ferragamo has seen a notable turnaround. Despite ongoing restrictions on commercial activities in certain countries, the brand experienced a substantial revenue increase of 34% from January to September, reaching a total of 785.3 million euros. This growth reflects the resilience and adaptability of the brand during challenging times.

Prior to the pandemic, Salvatore Ferragamo had already faced difficulties in 2017 and 2018, primarily due to brand positioning issues. However, the brand managed to make a comeback in 2019. The Covid-19 pandemic proved to be another disruptive challenge, but the brand’s ability to recover in the first half of 2021 with a net income of 33.4 million euros is truly remarkable.

Asia-Pacific remains the largest market for Salvatore Ferragamo, although it now accounts for 47% of sales compared to 53% last year. Nonetheless, the region experienced a revenue increase of 22.7% in the first nine months of the year. Notably, retail sales in continental China grew by 22.1% in constant currencies. In North America, the brand witnessed a surge in revenue by 97.1% in constant currencies for the first three quarters of the year and 65.7% in the third quarter.

These positive financial results underscore the resilience and adaptability of Salvatore Ferragamo in the face of adversity. The brand’s strong presence in Asia and the United States, coupled with its focus on innovation and customer satisfaction, have played a crucial role in its recovery. Salvatore Ferragamo continues to solidify its position as a leading luxury brand in the global market.

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