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March 18, 2008
Ferragamo's Profits Soar, Opening Door For IPO
Salvatore Ferragamo Italia’s net profits surged 34.2 percent in 2007 to $64.5 million. Meanwhile, sales at the luxe Italian brand rose 6.5% to $941 million.
The company attributed the growth to retail expansion and improved sales in Asia and Europe. Ferragamo opened 20 new stores and 25 franchised units last year.
The company is planning an initial public offering later this year and the strong 2007 results are expected to help draw investors.
Posted by Blacks on March 18, 2008 09:59 AM
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