The Tamesis
In the first quarter of 2026, which ended on March 31, Salvatore Ferragamo Group’s revenue fell 1.2% year-on-year to 209 million euros at constant exchange rates.
Ferragamo still has no CEO since the departure of Marco Gobbetti in February 2025. Leonardo Ferragamo continues as Chairman, overseeing the transition period.
The brand’s direct-to-consumer (DTC) channel performed best in the first quarter and remains a strategic priority for the company. Sales rose 5.5% in the quarter, driven by North America and Latin America, with positive performance in all regions except Japan. However, the increase was not enough to offset a 19% decline in wholesale volumes. The company attributed the drag to a difficult comparison basis and its continued focus on simplifying its wholesale channel, particularly in EMEA (Europe, the Middle East and Africa).
Ferragamo’s net sales in Europe, the Middle East and Africa fell 17% in the first quarter. North America was the strongest performing market, with net sales increasing 18.8%. The United States is a key market for Ferragamo. The company highlighted ongoing renovations at its flagship stores on Fifth Avenue in New York and Beverly Hills in Los Angeles, as well as the opening of two temporary stores. In Central and South America, net sales increased 7%, while sales in the Asia-Pacific region fell 5.4% and in Japan fell 4.4% due to fewer Chinese tourists.
Footwear and leather goods remain Ferragamo’s largest categories, accounting for 43.9% and 42% of total sales respectively. Footwear sales fell 3.4% in the first quarter and leather goods sales fell 22.5%. Clothing sales fell by 3.1%, and sales of silk and other categories fell by 1.1%.
“Despite continued global instability, exacerbated by the conflict in the Middle East and its potential short- and medium-term consequences, Ferragamo remains focused on executing its strategic plan, leveraging its brand heritage and strengths to drive demand, refine its product portfolio and ensure consistency of messaging across all channels,” the company said in a release. “The group will continue to prioritize revenue and distribution quality, while maintaining a strong focus on operational discipline and financial sustainability.”
