Salvatore Ferragamo Group revenues were up 4.6% year-on-year, on a constant currency basis, to €259 million in the second quarter of 2026. In the first half of the year, revenues reached €468 million, up 1.9% year-on-year, which the company credits to a strong direct-to-consumer (DTC) performance offset by a struggling wholesale channel.
The second quarter could mark a new direction for the brand, which has succumbed to two consecutive quarters of sales declines and muted growth before that. Gross operating profit for the first half of the year sits at €90 million, compared with €73 million in H1 2025, with margin improving to 19.2%, up from 15.3% a year prior.
Sales in the DTC channel, a particular focus for the group, were up 6.6% year-on-year in Q2, driven by solid performance across its mono-brand store network, as well double-digit growth at Ferragamo.com, citing higher site traffic and average order value. Wholesale growth was flat for the quarter, as the company continues its recalibration of distribution accounts.
By region, North America led sales growth at 13% in the second quarter, supported by continued sales momentum and full-price sales in the US, Ferragamo’s core market. Central and South America followed, with 6.5% growth. Sales in the Asia-Pacific region fell 0.6% off of a negative wholesale performance, though the Japanese market grew 2.8% in Q2 — a trend that’s materializing across competitors for the second quarter.
In the first half of the year, footwear and leather goods remained Ferragamo’s strongest categories, comprising 45.4% and 40.8% of total sales, respectively. Leather goods sales were down 3.1% in H1, while footwear grew 5.1%. Apparel sales rose 5.6%, and sales in silk and other categories climbed 7.8%. The group referenced the progress made on the heightened desirability of recent collections, as it continues to increase the visibility of key categories and icon products.
The company has yet to replace CEO Marco Gobbetti, who exited the company in February 2025. Group chair Leonardo Ferragamo has been overseeing the business.
“While visibility on the macroeconomic environment remains limited, [we are] increasingly focused on the medium to long-term development of the business,” the company said in the earnings release. “The progress achieved over the past 12 months provides increasing confidence in the strategic direction undertaken, as Ferragamo continues to strengthen the capabilities, processes and organizational foundations required to deliver sustainable growth and value creation over time.”
