Italian luxury fashion brand invests more in China
Italian luxury fashion outfit Salvatore Ferragamo has boosted its investment in joint distribution ventures in China from 50 to 75 percent.
The company said that the initiative follows agreements with Imaginex Holdings and Imaginex Overseas. It did not give the value of the deal.
Ferragamo has already established around 100 outlets in continental China, Hong Kong, Taiwan and Macao.
Asia is Ferragamo’s biggest market – it accounted for more than a third of its total revenues last year.
The trend-setting brand was set up in 1927 by Salvatore Ferragamo, a Florentine cobbler who came back to Italy from the United States where he designed shoes for the Hollywood glitterati.
Ferragamo now also makes clothes, leather goods and eyewear.
Photo credit: uggboy
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