Salvatore Ferragamo SpA
SFER: XMIL (ITA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€2.30 | Rbl | Qdbzjxyl |
Ferragamo's Strong Recovery Expected Through the Fiscal Year; Raising Fair Value Estimate
Business Strategy and Outlook
Salvatore Ferragamo is an Italian monobrand company mainly known for its footwear and accessories. We believe the firm benefits from relatively strong control over distribution (73% of revenue is retail, in line with more than 70% for Burberry, Prada, and Gucci, versus the low sixties percent range for Hugo Boss), while its strong representation in airport locations (about 150 travel retail stores) positions it well to benefit from growth in global travel flows and tourist luxury spending.