Travelling Chinese shoppers buying leather goods will boost sales growth in 2014

13 January 2014

According to luxury group Salvatore Ferragamo chief executive Michele Norsa, travelling Chinese shoppers buying leather goods will boost sales growth in 2014. Norsa said the group met expectations at the close of 2013, but that it was imperative to wait until Chinese new year on January 31 to make forecasts for the year.
"Travelling keeps being a strong driver of growth," Norsa said.
Chinese luxury consumers make up nearly a third of the market and are increasingly shopping abroad due in part to easier visa procedures in the US and European, according to consultancy Bain & Co.
"Shoes are our core category and in fact a shoe is not a gift, shoes are something you buy for yourself," Norsa continued.
Originally a women's footwear maker established in Florence in 1927, the group reported net profit up 61% in the first nine months of 2013.



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