The renowned Italian luxury brand, Tod’s Group, recently announced a 2.2% decrease in sales for the first nine months of the year. This decline was primarily attributed to adverse currency exchange rates and a challenging market environment. Despite these obstacles, the group, famous for its Tod’s and Roger Vivier footwear lines, reported consolidated sales of 722.7 million euros by the end of September. Encouragingly, there have been indications of improvement in recent weeks, giving hope for a positive future outlook.
During this period, Tod’s and Roger Vivier brands displayed varying performance results. While Tod’s sales remained steady at 386.9 million euros, Roger Vivier saw a slight increase to 132.3 million euros at constant rates. Both brands were affected by currency fluctuations and market challenges during the summer months.
On a brighter note, the group’s other brands, Fay and Hogan, recorded revenues of 43.5 million euros and 159.3 million euros respectively. The Tod’s shoe category continued to be a standout performer, with sales reaching 575.6 million euros.
Geographically, domestic sales in Italy saw a decline of 4.4%, whereas Europe and the Americas experienced slight growth. Notably, Greater China emerged as a key growth market for Tod’s, with revenues totaling 159.8 million euros, driven by outstanding performance in mainland China, Hong Kong, and Macao.
Diego Della Valle, chairman and CEO of Tod’s Group, expressed his confidence in the company’s new business model, which includes changes to retail strategies and product offerings. Della Valle stressed the importance of adapting to market dynamics and meeting the evolving demands of consumers.
Despite the challenges ahead, Tod’s remains steadfast in its commitment to delivering exceptional products and innovative marketing campaigns to foster future growth. By prioritizing innovation and staying attuned to consumer trends, the company aims to navigate the volatile global market landscape and emerge stronger in the years to come.
For more information on Tod’s Group and its iconic brands, visit their official website here. To explore the latest collections and updates from Tod’s, check out their Instagram profile here.
