Italian luxury shoe company Salvatore Ferragamo announced excellent semi-annual results yesterday, featuring a 32.4% increase in net profits. The favourite brand of Hollywood stars like Angelina Jolie earned 45.7 million euro in the first six months of 2011.
Turnover also went up and a 29.8% rise to 459 million euro and also the margin saw an increase from 14.9 to 18.2%. The Firenze-based family firm has accessories like silk scarves and leather bags to thank for this excellent result as it joins a long list of luxury brands with higher profits and turnovers. Last month, competitors like PPR, LVMH and Burberry already published record results.
The chain has five stores in the Benelux region: three in Belgium (Antwerp, Brussels, Knokke-Zoute), one in the Netherlands (Amsterdam) and one in Luxembourg.
