Salvatore Ferragamo Takes Control in Asia

Italian firm is buying up shares in joint ventures in the fast-developing region.

EASTERN PROMISE: Salvatore Ferragamo is buying up shares in joint ventures in Korea, South East Asia and Greater China. “It is part of our strategy to be more directly present in these areas, which are main markets to develop and invest in,” Michele Norsa, chief executive officer of the publicly listed company, said on the sidelines of its men’s show on Sunday.

Norsa described the performance of the fourth quarter as “positive” also in China, “even after the political transition.” He also addressed the American market, saying that “a consistent growth” there has swept away worries following Hurricane Sandy last year and that there were “interesting prospects” for 2013. The Florence-based company plans to invest in retail in the U.S., expanding existing stores and opening new units in cities such as Chicago and San Francisco with an evolution of the brand’s store concept.

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