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Tod's Group turnover exceeded one billion euros in 2022

Jan 31, 2023 Italy
Tod's Group turnover exceeded one billion euros in 2022
The Italian-based luxury group posted revenue growth of 13.9% in 2022, year-over-year, thus exceeding the one billion mark, driven by the retail channel and Tod’s brand performances
"I am very satisfied with the goal achieved: the Group's turnover has exceeded one billion euros, up by 13.9% compared to 2021. It is even more important to see the quality of these numbers: the growth, in fact, was driven by the retail channel and Tod's brand, which recorded excellent results in all product categories. We are reaping the first results of the medium-term strategy that we have launched in recent years, which aims to increasing the equity value of the Group and of each individual brand, allocating all the investments necessary to obtain this result. (…) Considering the excellent start to the year in our stores and the solidity of the order book for next season, we are very confident regarding the Group's future results", commented Diego Della Valle, Chairmand and CEO of the group.


Full Year 2022

In the fiscal year 2022, Tod's group's consolidated sales totalled 1.01 billion euros, up by 13.9%, as compared to the previous year, and approximately 10% higher than the pre-pandemic level of 2019. This was very much due to the performance of the retail channel, whose sales totalled 743.3 million euros (up by 12.7%, year-over-year), representing close to 74% of the total revenue.

Last year, Tod's brand sales increased by 19.1%, amounting to 509.9 million euros, recording "an excellent growth rate in all geographical areas", as compared to 2021. It was followed by Roger Vivier brand, whose high exposure to the Chinese market caused sales growth to slow down from March; still, full year sales rose by 7.1%, reaching 246.0 million euros. The Tod's group also reported a "solid double-digit increase in the revenues of the Hogan and Fay brand" in 2022, respectively, by 10.9% and 10.7%, year-over-year, driven by the Italian and European markets that have recovered from COVID-19-related restrictions in 2021.

On a comparable basis to 2021, full year shoes sales grew by 10.5%, totalling 776.8 million euros, leather goods and accessories sales increased by 33.7%, reaching 160.6 million euros, and apparel sales were up by 13.9%, adding 67.8 million euros to the total turnover.

By region, in 2022, Tod's group sales amounted to 251.7 million euros in Italy and 216.8 million euros in the remaining European continent, up by 15.9% and 25.7%, respectively, as compared to the previous year. The performance registered in the Americas was also "excellent", with sales growing by 31.2% to 81.9 million euros.

In Greater China, though, sales declined by 8.4% year-over-year, due to COVID-19 restrictions because, even after their progressive easing, "the trend of consumer demand remained volatile and impacted by local and temporary lockdowns in various primary cities". In the "Rest of the World" area, sales were up by 43.3%, reaching 169.3 million euros, "driven by the excellent results of Japan and Korea".


Image Credits: tods.com


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