Thursday, 1 October 2009

Mexico Is The Strongest Luxury Market Says Ferragamo Chief – 1/10/09

For the first time, Mexico has hit the MO Down’s radar with reports that Michele Norsa, Salvatore Ferragamo SpA’s Chief Executive Officer, revealed it is a new growth hot spot.

Norsa revealed the Italian fashion brand’s strongest sales growth this year was in Mexico, where the wealthy spent more at home as the peso fell.

“Sales are up 30 percent” in Mexico, “where Ferragamo sells from about 15 outlets,” Norsa said.

Norsa also stated, the U.S. market is also “not as bad as it was before,” while Chinese demand “is much more consistent and the number of new projects is uncomparable” to other nations. Around eight new Chinese stores are planned for next year.

For more of this interview with Norsa, click here to go to Bloomberg.

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,