do all ferragamo belts say salvatore ferragamo, Salvatore Ferragamo | Global Blue
March 6, 2016
Salvatore Ferragamo Takes Full Management Of Its 4 Asian Distribution Companies
Salvatore Ferragamo is working to strengthen its presence in Asia. The Italian luxurious label has acquired a one hundred% stake in four joint-enterprise companies created in partnership with Trinity Ltd (of the Li & Fung group) that handle Ferragamo distribution in South Korea and South-East Asia, the place the trend label presently operates 70 monobrand shops.
The Florence, Italy label has stated in a press launch it has purchased the companies’ 20% share still owned by Trinity, via Trinity Luxury Brands Holdings Ltd and Ferrinch (L) Ltd. The worth of the transaction was not disclosed.
The deal impacts Ferragamo Korea Ltd, Ferragamo (Malaysia) Sdn. Bhd.Ferragamo (Singapore) Pte Ltd and Ferragamo (Thailand) Ltd, and is part of an do all ferragamo belts say salvatore ferragamo settlement signed in 2012, which features a buying choice permitting Salvatore Ferragamo to take full control of the joint-venture firms.
On the time, Ferragamo had already elevated its stake within the 4 companies, which amounted to 80%. The financial gradual-down in Asia has undoubtedly urged Hong Kong retail giant Li & Fung to promote the remaining stock.
In the last few years, the Asia-Pacific region has grow to be Salvatore Ferragamo‘s primary market, accounting for 35.5% of its world income. As of 30th September 2016, the label’s gross sales in the region amounted to €360 million, equivalent to a zero.Three% decrease in comparison with the first 9 months of the previous fiscal yr.