Tod’s wants 1% of profits to go to “solidarity projects”
13/03/2014
The company, whose brands include Tod’s, Roger Vivier, Hogan and Fay, reported sales for 2013 of €967.5 million, up by 0.5% on the figure for 2012. Growth would have been higher (around 1.7%) had it not been for the effects of currency exchange rates, it said. Its net income for the year was €133.8 million.
Shoes contribued 76.4% of total revenues and leathergoods 16.6%; leathergoods revenues were down by 2.8% compared to the year before at €160.9 million, but again, Tod’s said the figure would have shown an increase if exchange rates had remained constant.
In keeping with the experience of other Italian brands, Tod’s suffered a sharp decline in domestic revenues, down by 15.9% compared to 2012 at €323 million. However, it reported increases in most other markets, including the rest of Europe. The increase in China, including Hong Kong and Macao, was 21.3%, while in the Americas it was 10.5%.
Chief executive, Diego Della Valle, said on announcing the results that Tod’s and Roger Vivier had led the way for the group through growth in international markets. “Our clients continue to deeply appreciate our brands and products for their the quality and exclusivity,” he said. “We are completing the building of a new plant in Italy, which will be necessary to face the growing demand.”
Share this story:
