Asian sales fuel revenue rise at Tod's
Italian leathergoods and footwear brand Tod's has
posted a 13.7% rise in net profit for the first six months of 2012. The growth
was attributed to strong Asian and US sales.
Profit for the first half totalled EUR74.4 million,
with sales rising 9.8% to EUR82.5 million.
Despite a 12% sales decline in Italy, sales grew 30% in
North America and more than 55% in Asia and the rest of the world, excluding
Europe.
Chairman and CEO, Diego Della Valle, said: "Half-year results confirm the sound growth
of our Group in sales and profits. Consistently with our international expansion
strategy, our group continues to post outstanding results in the foreign
markets, in particular in Asian and US markets.
"We are maintaining, and we will continue to maintain, the tight
approach and the selective distribution strategy, which allow us to closely
monitor all the markets, in particular the domestic one.
"Considering also customers' increasing appreciation for our products,
thanks to their quality and their nature of timeless icons, I’m confident that
also the second half of the year will achieve good results and I can confirm
our expectations to post a significant growth also this year."
