Tod's Group Reports First Half Sales Growth
Italian luxury holding Tod's reports a 21,7% increase in revenue in the first half of 2023 compared to the same period in 2022 with double-digit growth across all brands and product categories.
“The sales numbers released today confirm the excellent momentum of our group, with all brands recording solid double-digit revenue growth in the first half of 2023,” said Tod’s Group CEO Diego Della Valle. According to him, the results of Tod's and Roger Vivier were excellent in all product categories. The Asian markets, where the group has a wide network of stores, contributed significantly to revenue growth during the reporting period, but also showed good results in the group's home market, in Italy and in the rest of Europe.
As of June 30, the Italian group's consolidated revenue was €569,1 million, up 21,7% year-over-year, as all brands and product categories recorded double-digit growth.
Thus, in the first half of 2023, Tod's brand revenue increased by 21,3% to 283,3 million euros, Roger Vivier's revenue grew by 28,4%, reaching 152,5 million euros, Hogan's revenue grew by 14,3% to 108,5 million euros, and Fay's revenue was 23,5 million euros, compared with 19,8% from the same period a year earlier.
The leather goods and accessories category recorded a significant increase in revenue of 32,9% in the first six months of the year, amounting to 95,4 million euros, compared to the same period of the previous year. In the footwear category, revenue reached 439,3 million euros, up 18,9% year-on-year, while in the apparel category, sales increased 28,7% year-on-year to 33,1 million euros.
In the first half of the current financial year, group revenue increased by 12,2% in Italy to €122,9 million and by 14,0% in the rest of the European continent to €116,7 million compared to the same period previous year. year. In Greater China, Tod's revenue was €194,4 million, up 43,2% from the first half of 2022, while in the Americas it was down 1,8% year-over-year. Meanwhile, in the rest of the world, the company's revenue for the period amounted to 97,9 million euros, an increase of 19,4% compared to the first half of last year.
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