Revenues at Italian luxury group Salvatore Ferragamo beat market forecasts in the first quarter despite a decline in retail sales in China, and the group said it expected to double sales in the medium term.
Salvatore Ferragamo and Amazon said on Tuesday Chinese authorities had seized counterfeit products in the Zheijang province, following a global investigation in which the luxury group and the online retailer cooperated.
European perfume- and cosmetics-makers face shortages of paper, glass, and some key oils and alcohols, as Russia's invasion of Ukraine adds further disruptions to the supply chains for beauty products.
Italy's Salvatore Ferragamo said on Monday it had appointed Maximilian Davis as creative director, starting from March 16, in a further step by the luxury group to refresh its products and boost sales.
On Monday, the French label unveiled the ready-to-wear collection designed by new creative director Kobi Halperin, to be distributed globally from this season, while a relaunch plan for perfume will kick off in 2023.