Fashion

Ferragamo: Signs of Recovery Reassure the Markets

By Eva Morletto08 avril 2026

In the financial markets, Ferragamo stands out as an exception amid an ongoing macroeconomic uncertainty. After a period of mixed financial performance, the Italian brand may be returning to growth, prompting analysts to revise their forecasts upward.

In 2025, Ferragamo refocused its product lineup on iconic items, streamlined its distribution channels, and prioritized direct-to-consumer sales (Ferragamo)

While the release of final results is expected in mid-May, retail sales forecasts for the first quarter of 2026 illustrate Ferragamo’s current momentum. Analysts at Bernstein project a 5% increase in retail sales, which would mark the third consecutive quarter of growth for the Tuscan brand.

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A Model to Follow in the Luxury Sector?

This positive trend is offset by a decline of approximately 18% in wholesale sales, reflecting the broader luxury market trend marked by pressure on department stores. Based on these projections, investment bank Barclays has revised its forecast to €5.50 per share, representing a potential 12% increase from previous levels. Total revenue for the first quarter is expected to be around €203 million, representing a slight 1% decline at constant exchange rates compared to 2024.

What is appealing to the markets is not only the recovery in figures but also the effectiveness of the strategy implemented by the Italian brand during the 2025 fiscal year. After years of disappointing results, marked by a 10.5% decline in revenue in 2024, Ferragamo refocused its offering on iconic products, streamlining its distribution and prioritizing direct-to-consumer sales.

A Strategy that Pays Off

This commercial discipline, combined with a strengthening of its premium customer base, addresses the volatility of global demand. While other brands have pursued growth strategies by expanding their portfolios through massive acquisitions, Ferragamo has chosen to focus on optimization, clear positioning, and the enduring value of its collections. This strategy is beginning to bear fruit, with a more transparent and resilient business model that is attractive to investors. Ferragamo could become a model for its competitors to follow.

Key Points:

• Ferragamo could post a third consecutive quarter of retail sales growth (+5% expected in the first semester of 2026).

• The group is benefiting from a strategy refocused on direct sales and iconic products.

• Analysts are revising their outlook upward, with a higher price target and a business model deemed more resilient.

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