Tod's Strong growth continues for Tod’s in nine-month results
The group noted that there was a negative currency impact of around €16 million in the period, meaning that the revenue result at constant exchange rates would be €844.3 million (an increase of 16.5%).
Looking at the individual brands, Tod’s was up by 12% as reported to €408.4 million, while Roger Vivier increased by 19.1% to €214.2 million, Hogan was up by 11.8% to €162.5 million, Fay increased by 22.2% to €41.2 million and other revenue was relatively flat at €2.1 million.
Across the product categories, shoes were up by 12.3% year-on-year on a reported basis to €635.5 million, while leather goods and accessories increased by 19.5% to €137 million and apparel had growth of 25.1% to €53.7 million.
The brand’s home market of Italy had growth of 8.2% year-on-year to €190.6 million, while the rest of Europe grew by 13.1% to €180.8 million. The Americas reported a decline of 0.5% to €56.5 million, Greater China increased by 25% to €264.1 million, and the Rest of World had growth of 12.9% to €136.4 million.
By distribution channel, retail (including directly operated stores and e-commerce) grew by 14.6% to €608 million, while third party franchised stores and independent retailers were up by 13.3% to €220.4 million.
Chairman and CEO Diego Della Valle said: “I am satisfied with the sales results of our Group; all our brands recorded double-digit growth in sales, thanks to the combination of solid local demand and tourist purchases.
“The results of leather goods and the Tod’s and Roger Vivier brands were particularly brilliant, confirming the ever-increasing appreciation from customers for the extremely high quality of the products, their craftsmanship and their timeless elegance.
“Despite the uncertainty and volatility of the macro-economic context at an international level, I am confident in the results of the current financial year, both in terms of revenues and profitability, also thanks to the constant attention to cost control and improvement of operational efficiency.
“Tod’s continues to take into great consideration the issues related to sustainability and social solidarity, with particular attention to young people, also to encourage them to choose ‘professions’ representative of the best quality Italian craftsmanship”
Credit: Tod's