(Reuters) -Italian luxury group Salvatore Ferragamo said it had put in place a plan to revive sales and relaunch its brand as it deals with eroding consumer demand and macroeconomic certainty.
The Florentine group, currently without a chief executive after the exit of Marco Gobbetti in March, posted a first-half adjusted net loss of 16 million euros ($18 million), against a net profit of 6 million euros in the same period of 2024.
The group said it had undertaken a review of its brands and identified key priorities and the development of a “focused action plan”.
Ferragamo has already started implementing changes in the second quarter, it said, and believes these efforts will become increasingly effective by the end of the year, carrying into 2026.
Sales at constant exchange rates in the first six months of the year fell by 7.1% to 474 million euros, mainly dragged down by the wholesale channel and by weak consumer demand in the Asia Pacific region.
($1 = 0.8738 euros)
(Reporting by Enrico Sciacovelli, editing by Alvise Armellini and Matt Scuffham)
