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Tod’s delivers solid performance

Nov 24, 2023 Italy
Tod’s delivers solid performance
The Italian-based luxury brand recorded a 14.3% increase in sales in the first nine months of 2023, as compared to the same period of 2022, with all brands registering double-digit growth
“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. We continue to follow a precise development strategy for each brand, focused on the organic growth of existing stores and an expansion of product categories, consistent with the DNA of each one”, commented Diego Della Valle, Chairman and CEO of the Group.


Nine Months Results

In the first nine months of the year, the group’s consolidated sales amounted to 828.4 million euros, up by 14.3%, on a comparable basis to the same period of last year, with all brands recording double-digit growth in revenues.

Therefore, in this nine-month period, Tod’s brand sales grew by 12.0%, reaching 408.4 million euros, and Roger Vivier’s sales increased by 19.1% to 214.2 million euros, as compared to a similar period of 2022. Sales at Hogan rose by 11.8% year-over-year, totalling 162.5 million euros, and at Fay’s by 22.2% year-over-year, amounting to 41.2 million euros.

Regarding product categories. In the first nine months of 2023, sales in the apparel category took the lead, growing by 25.1% to 53.7 million euros, on a comparable basis to the same period of the prior year. But the shoes category accounted for 635.5 million euros of the group’s total sales, up by 12.3% year-over-year, while the leather goods and accessories category was responsible for 137.0 million euros of the total sales, up by 19.5% year-over-year.

Breaking now for region. In the nine months to the end of September, Tod’s group’s sales rose by 8.2% to 190.6 million euros in Italy and by 13.1% to 180.8 million euros in the rest of the European continent, as compared to the first nine months of 2022. In Greater China*, the company’s sales totalled 264.1 million euros, increasing by 25.0%, and reached 136.4 million euros in the rest of the world, growing by 12.9%, year-over-year. However, in the Americas** region, sales fell by 0.5% year-over-year to 56.5 million euros.

“Despite the uncertainty and volatility of the macroeconomic 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”, concluded Diego Della Valle.


*Mainland China, Hong Kong SAR, Macao SAR and Taiwan Region
** American continent (Northern and Southern America)

Image Credits: www.todsgroup.com


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