Tod’s gets off to racing start for Singles’ Day
Prominent Chinese retailer JD.com, whose annual Singles’ Day promotion started at 8pm on October 31, has announced that the transaction volume of Tod’s luxury footwear and leathergoods offering exceeded that of the brand’s entire Singles’ Day order volume last year in just the first minute.
Following the departure of former Tod’s chief executive Umberto Macchi di Cellere last month, the high-end Italian brand is currently being jointly steered by chairman, Diego Della Valle, and vice-chairman, Andrea Della Valle. Simona Cattaneo has also recently been appointed general manager.
Earlier this year, LVMH subsidiary Delphine raised its stake in Tod’s to 10%. Italian fashion influencer and digital entrepreneur Chiara Ferragni also joined the company’s board of directors around the same time, news of which was well-received by Borsa Italiana traders.
JD.com reported a total transaction volume of $41.1 billion for its 11-day Singles’ Day promotion in 2020, which then ran from November 1 through 11. This set a new record for the business, it said at the time.
Meanwhile, rival firm Alibaba similarly surpassed its own earlier records to total $74.1 billion in gross merchandise volume during its own Singles’ Day promotion last year, topping LVMH’s annual revenues for 2019.
Image: Tod’s via Instagram.
