Tod's
Revival of sales in China allowed Italian Tod's to increase revenue
The Tod's Group ends the first quarter of 2023 with €270,5 million in revenue, up 23% from the same period last year, with sales growth across all group brands. Among the markets stand out Greater China, writes fashionmagazine.it.
Overall, sales of Tod's Group brands Roger Viver and Fay, in particular, grew by more than 30% (excluding currency fluctuations), while Tod's recorded growth of 25% and Hogan 10%.
Among the markets stands out Greater China, where sales grew by 28,8% (excluding currency fluctuations). In Europe, the group recorded +18%, and in Italy +17,8%. The Americas were weaker (+2,3%).
“First quarter 2023 sales data,” said President and CEO Diego Della Valle, “reaffirms our group's excellent performance, with all brands posting solid double-digit revenue growth. Excellent results from Tod's and Roger Vivier, with excellent results across all product categories."
According to Della Valle, growth occurred in all markets. The Group has achieved excellent results in the Italian and European markets thanks to strong domestic demand and tourist activity. The contribution of the Chinese market is very significant, which shows good growth after the removal of covid restrictions, in this market Tod's is represented by branded retail, with a significant number of stores.
By product sector: footwear sales increased by 19,2% (excluding currency fluctuations). Leather goods and accessories grew by 38,3%, and clothing by 37,3%.
Della Valle said the group will continue to invest in marketing, communications and management skills to strengthen the brand's position, "following the logic of cost control and operational and managerial efficiency."
Investments will also be directed to the production chain to ensure the highest possible product quality, and the development of a distribution network with the opening of new points of sale, "focusing on ensuring organic growth and the development of multi-channel distribution."
"The international macroeconomic context remains unpredictable," Tod's CEO said, "but given the strong sales performance in April and the strong performance in winter orders, I'm confident in the group's future performance."
The Tod's Group ends the first quarter of 2023 with revenues of €270,5 million, up 23% from the same period last year, with sales growth across the group's brands. Among…
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