Revenues totalled €474 million for the six months ending June 30, compared with €523 million in the same period last year.
The downturn was led by a 17.9% drop in wholesale revenues to €105 million. Direct-to-consumer (DTC) sales also declined by 6.5% to €357 million, despite some resilience in Europe and Latin America. Gross profit fell 15% to €321 million, reducing the margin to 67.7% of revenues, down from 72.1% a year ago.
EBITDA fell 38.1% year-on-year to €73 million, reflecting a steeper cost base and lower revenue volumes.
Ferragamo reported sales declines across most regions in the first half of 2025, with Asia Pacific down 18.5% (-16.3% at constant exchange rates), driven by weak consumer demand and a struggling wholesale channel. Japan fell 3.5% (-4.9% at constant rates), with Q2 particularly impacted by reduced tourist spending.
In EMEA, sales dropped 7.8% (-8.6% at constant rates), as wholesale weakness offset solid DTC performance. North America declined 3.9% (-1.4% at constant rates), with stable DTC sales but lower wholesale activity.
Central and South America was the only region to post growth, up 11.6% at constant exchange rates, supported by strong DTC performance, though currency effects resulted in a 3.5% decline at current rates.
The group posted a net loss of €57 million in H1 2025, compared to a €6 million profit last year, impacted by a €41 million impairment charge. Excluding this, the adjusted net loss was €16 million.
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