MILAN Feb 3 Italian luxury group Salvatore
Ferragamo said on Friday it aims to raise its revenues
by twice the market rate in the mid-term, focusing on growth of
its existing stores.
The Florence-based group is presenting its industrial
strategy under new Chief Executive Eraldo Poletto, appointed in
mid-May to replace long-serving Michele Norsa.
"The mid-term ambition (is for) topline growth to be twice
the market growth, through like-for-like focus," a presentation
The company, whose founder designed ballet shoes for actress
Audrey Hepburn, is seeking to make its brand more contemporary
and desirable and has focused in recent months on increasing
profit margins rather than pushing sales, given the uncertain
prospects of the luxury industry.
On Tuesday it said its preliminary revenue last year was
1.438 billion euros ($1.54 billion), up 1 percent at current
exchange rates and slightly above market expectations.
($1 = 0.9309 euros)
(Reporting by Giulia Segreti; editing by Agnieszka Flak)