Tod's
Tod's Group turnover exceeded one billion euros in 2022
Italy's Tod's Group reported a 13,9% year-on-year revenue increase in 2022, surpassing the one billion euro mark, driven by increased retail sales and strong performance of the Tod's brand, Worldfootwe ar.com reports.
“I am very pleased with the result: the group's turnover exceeded one billion euros, an increase of 13,9% compared to 2021. It is even more important to see the quality of these numbers: growth was, in fact, driven by the successful development of the retail channel and the Tod's brand, which performed well across all product categories. We are reaping the first fruits of the medium-term strategy that we have launched in recent years, which aims to increase the value of the equity capital of the group and each individual brand, and allocate all the necessary investments to achieve this result. (…) With a great start to the year in our stores and a solid backlog of orders for next season, we are confident in the group's future achievements,” commented Tod's Group Chairman and CEO Diego Della Valle.
In fiscal year 2022, Tod's group consolidated sales of €1,01 billion, up 13,9% on the previous year and around 10% up on 2019 (pre-pandemic). Retail sales amounted to 743,3 million euros (up 12,7% year-on-year), representing about 74% of total revenue.
In 2022, Tod's brand sales grew by 19,1% to €509,9 million, recording "excellent growth rates across all geographies" compared to 2021. It is followed by the Roger Vivier brand, which has a strong presence in the Chinese market and has consequently experienced a slowdown in sales since March; however, Roger Vivier's full-year sales rose 7,1% to €246 million. Tod's Group also reported a 2022% and 10,9% increase in revenue for the Hogan and Fay brands in 10,7, respectively, compared to last year, thanks to the recovery of the Italian and European markets after restrictions related to COVID-19.
Compared to 2021, the group's footwear sales for the full year grew by 10,5% to €776,8 million, leather goods and accessories sales grew by 33,7% to €160,6 million and apparel sales grew by 13,9. 67,8%, adding XNUMX million euros to the total turnover.
Regionally, in 2022, Tod's group generated sales of €251,7 million in Italy and €216,8 million in the rest of Europe, up 15,9% and 25,7%, respectively, over the previous year. The Americas were also "excellent" with sales in those regions up 31,2% to €81,9 million.
However, in Greater China, sales were down 8,4% year-over-year due to COVID-19-related restrictions because even after their gradual easing of lockdowns, “the trend in consumer demand remained volatile and was influenced by local and temporary restrictions in various cities." In the Rest of the World section, the group's sales rose 43,3% to €169,3m, "due to strong results from Japan and Korea."
Italy's Tod's Group reported a 13,9% year-over-year revenue growth of 2022% in XNUMX, surpassing the one billion euro mark, driven by higher sales in…
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