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  "authorName": "Salvatore Ferragamo",
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  "presentationDate": "2023-04-01 00:00:00",
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      "text": "2022 was a building year in which we started our strategic refocusing.\nIn 2023 we started the progressive deployment of our new product offer. In February the first products designed by our new creative Director, Maximilian Davis, arrived in our stores.\nIn spite of positive early results, the limited quantities of new products are not yet sufficient to positively impact the trading in this phase of the transition. Reported revenues for Q1 23 were down 4% vs. LY (-7% at const. FX).\nRTL, at const. FX, was down 2% vs. Q1 22, mainly penalized by a softening US market, while we reported a positive performance in EMEA and a progressively improving trend in China, with Mainland Chinese customers also driving the recovery in Hong Kong.\nWHL, at const. FX, was down 16% vs. Q1 22, due to the planned rationalization of our third parties' network, mainly in the US, and the delayed recovery of Travel Retail in Asia Pacific, while EMEA reported a solid trend.",
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