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February 11, 2016
Salvatore Ferragamo Boosts China Investment For 2018
Having invested heavily in Asia — its largest regional market — over the previous several years, and targeted more and more on mainland China growth, this week Italian luxurious trend group Salvatore Ferragamo announced plans to extend its stake in China joint ventures for distribution from 50 to 75 percent over the course of 2013. This, as the AP factors out, follows recent agreements with the Hong Kong-primarily based brand management and distribution company Imaginex Holdings as well as Imaginex Overseas.
Ferragamo has expanded aggressively since entering the mainland China market in 1995, opening around 60 locations in greater than 30 cities throughout the Mainland. The brand presently operates around a hundred factors of sale within the Larger China region alone, and launched an official on-line store this past October. Despite a harder retail environment in mainland China within the third and fourth quarters of 2012 — owing to extra overseas spending by vacationer-shoppers in search of good deals — Chief Government Michele Norsa has said that he expects a rebound in the months forward.
Whereas over-enlargement has been an issue for some world high-end manufacturers in China, particularly these with lower brand-title resonance amongst inland Chinese customers, Ferragamo has constructed up quite a reputation for itself even amongst male shoppers in third- and fourth-tier cities. This, along with the brand’s strong nationwide gross sales presence (each bodily and on-line), social media actions, and large product combine bodes properly for the 12 months forward, even when buyers in Beijing or Shanghai significantly cut back.
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