|
 Michele Norsa said the group had closed 2013 in line with its
expectations, but that it was important to wait until Chinese New
Year in January to make forecasts for the year.
"Travelling keeps being a strong driver of growth," Norsa told
reporters before the show at Milan men's fashion week, singling out
Chinese tourists to Europe and the United States.
Chinese luxury consumers, who make up for almost one third of the
market, are increasingly shopping abroad, partly thanks to simpler
visa procedures in the United States and some European countries,
according to consultancy Bain & Co.
A crackdown on giving luxury goods as gifts to win the favor of
public officials in China has not affected Ferragamo's core
business, Norsa said.
"Shoes are our core category and in fact a shoe is not a gift, shoes
are something you buy for yourself," Norsa said.
The group founded as a women's footwear maker in Florence in 1927
reported net profit up 61 per cent in the first nine months of 2013.
Sunday's menswear show featured cashmere coats in blocks of beige,
brown and blue, dark pinstriped suits and bomber jackets with
patterned knitted sleeves.
Creative director Massimiliano Giornetti told Reuters before the
catwalk show the collection had been inspired by the idea of home
comforts such as furnishings and Italian food. "The consumer of Ferragamo really loves the idea of a kind of
Italian lifestyle...enjoying life," Giornetti said.
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Attracting cash-rich tourists is especially important in Italy,
where timid signs of economic recovery should also have a positive
impact on consumption in 2014, Norsa said.
"We need to attract tourists and not only Chinese, of course, I'm
thinking about the Russians, the Middle Easterns...the biggest
potential is partially unexploited."
Norsa said he hoped the World Expo, a five-yearly international fair
which will be held in Milan next year, could help boost Ferragamo's
sales in Italy.
"In the second part of the year (2014) we could have Expo Milano
generating business traffic," he said.
(Reporting by Isla Binnie, editing by
William Hardy)
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