Ferragamo's holding company has agreed to sell a stake of 8 percent in Salvatore Ferragamo Italia to Peter Woo, whose family has been partnering with the Italian shoe brand for many years in Greater China. As part of the deal, Ferragamo will increase its stake in its joint ventures with Woo in Hong Kong, China, Macao and Taiwan. Ferragamo has more than 90 stores in the region. Strong sales in Asia contributed to raise Ferragamo's total revenues by more than 25 percent last year.

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