The current market conditions are not in favor of Ferragamo. The plan: Cutting Prices to Boost Japan Sales
Salvatore Ferragamo SpA is hoping to jump-start stagnant sales in Japan by cutting the retail prices of some pre-fall and fall-winter items by an average of 10 percent.
What's on sale? The Italian company is offering markdowns on selected merchandise. Those items include five styles each of women's handbags, women's shoes and men's shoes, a combination of pieces from the pre-fall and fall-winter collections, a spokeswoman said. For example, a women's tote bag will be marked down 11.8 percent to 75,000 yen, or $711, from an original price tag of 85,000 yen, or $806. The cost of a pair of women's driving shoes will be cut 3.3 percent to 58,000 yen, or $550, from 60,000 yen, or $569.