Italy based manufacturer of ready-to-wear leather and fashion accessories, shoes, luggage, perfumes, watches, etc. will further cut cost of its products after witnessing 44 per cent fall in recent months. Group sales plunged by 6 per cent in August-October to € 792 million or US $ 975 million. Chief Financial Officer Donatello Galli said, “We acknowledge that the results are below expectations, not only for external market conditions but also for some internal factors. We need to adapt our organisation to a context of market volatility.”
