The difficulties in positioning and relaunching Ferragamo and Tod’s ended up in the crosshairs of the stock market
Yesterday was a complex day for two historic Italian luxury brands. Ferragamo and Tod’s, in fact, they were both rejected from Ubs that has both the target price and the judgment were revised downwards, leading to “sell” for both. Meanwhile, he chose to promote Moncler, for which the Swiss institute has spent words of appreciation.
So why a double rejection? Either way it looks like the dark evil depends on the difficulty of positioning and relaunching after a complex period which however affected the entire sector. 2020 ended with a heavy decline for both Ferragamo and Tod’s, with both brands finishing in red: the creation of Diego Della Valle for 73.19 million, two more than Ferragamo.
On the occasion of Pitti, however, Confindustria Moda issued the estimates for 2021: the companies in the sector should close the year with a turnover up by almost 12% for about 9 billion in turnover. It is difficult to be more precise because there are uncertainties relating to the jump in the prices of raw materials and the bill.
There is still a long way to go to return to 2019, but certainly something is moving, above all thanks to exports which are worth 71.3% of the total and are growing in double figures, for a value of approximately 6.5 billion. The problem identified by Ubs is different for the two brands. As for Ferragamo, the target price was raised from 19.7 to 18 euros. Today the stock, down by more than one percentage point, was trading at € 20.5 per share, while last week it was above 23.
(Continued: Tod’s difficulties and investor opportunities on Moncler)
#Ferragamo #business #square #dark #evils #luxury #stars