Italian luxury brand Salvatore Ferragamo reported a 9.4% drop in first-half revenue to €474 million ($545.1 million) on Thursday, citing wholesale channel challenges and soft global demand.

The group recorded a net loss of €57 million ($65.6 million) for the period.

“The result was affected in particular by the deterioration in the consumer environment, the difficult wholesale context and persistent weakness in the Asia-Pacific region,” the company said in a statement.

Revenue from wholesale declined 17.9% to €105 million ($120.8 million), compared to the first half of 2024. Direct-to-consumer sales also fell, down 6.5%.

In the Asia-Pacific region—Ferragamo’s largest market—sales dropped 18.5% to €128.4 million ($147.7 million), reflecting continued softness in consumer demand.

In t

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