Tod’s faces “a year of transition”
25/01/2018
The Tod’s brand brought in €515.7 million, down by 7.7% year on year, while sales for the Hogan brand fell by 4.8% to €203.9 million. However, the group’s other two brands recorded increases in sales revenue. Sales at Roger Vivier grew by 7.8% to €179.3 million, while Fay’s results were a 1.4% increase to reach €63.5 million.
Shoe sales brought in €757.9 million, 78.7% of the group’s total. This category slipped by 3.2% compared to the 2016 results. However, the group said its sales of shoes showed “a visible improvement” in the fourth quarter of 2017.
Leathergoods sales brought in €135.8 million, a fall of 3.6%, and apparel contributed €68.7 million to the total, flat with the corresponding figure for 2016.
Chief executive, Diego Della Valle, said on announcing the results that 2018 will be “a year of transition” for Tod’s. He added: “We want each brand to fully respect its values and its DNA, offering products that are totally consistent with its own history of Made in Italy and craftsmanship, with a strong component of innovation and creativity, absolutely essential for attracting new consumers.”
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