Ferragamo’s first-quarter revenues dip 1.2%, wholesale sales drop 19%, but D2C proves resilient

Global luxury brand Ferragamo’s first-quarter revenues slid by 1.2% at constant exchange rates to total 209 million euros. Wholesale sales were down 19% year on year but direct to customer consolidated net sales rose by 5.5% at constant exchange rates during the quarter.

 
The business’ wholesale channel reported 42 million euros in consolidated net sales in the first quarter of the 2027 financial year, Ferragamo announced in a release on Thursday. Although wholesale was down, Ferragamo’s D2C segment saw positive performances at constant exchange rates across all regions except for Japan, notably reporting double-digit growth in both North and Latin America with a revenue total of 161 million euros.
 
Ferragamo had reported 221 million euros in group total revenue for the first quarter of its 2026 financial year, ending March 31, 2025. During the same quarter, its wholesale sales totalled 54 million euros and its D2C sales were at 164 million euros.

“Despite the persistent global instability, exacerbated by the Middle East conflict and its potential short to medium-term consequences, Ferragamo remains focused on executing its strategic plan, leveraging its brand heritage and strengths to drive desirability, refining product mix, and ensuring consistency of messaging across all channels,” announced the business in a press release. “The Group will continue to prioritise top-line and distribution quality, while maintaining a strong focus on operational discipline and financial sustainability.”
 
Ferragamo announced its results at a Salvatore Ferragamo Group parent company meeting chaired by Leonardo Ferragamo. The Board noted that its EMEA (Europe, Middle East, and Africa) D2C channel posted a positive performance in the first quarter against a challenging backdrop of lower tourist visits to the region and a high comparison base from the previous fiscal year. The Board attributed its wholesale business degrowth to its “continued selective distribution strategy” along with a high comparison base.