Tod’s reports strong H1 driven by Asian markets

Luxury fashion conglomerate Tod’s SpA announced its results for the first half 2023, during which time its revenues were up 22 percent, increasing from 467.5 euros to 569.1 million euros.

In a regulatory filing, Diego Della Valle, chairman and CEO of the group, noted that all of its brands, including Tod’s, Hogan and Roger Vivier, saw “solid double-digit revenue growth” over the period.

While Roger Vivier’s revenue was up 28.4 percent to 152.5 million euros, Tod’s experienced an uptick of 21.3 percent, hitting revenues of 283.3 million euros.

In terms of geographical areas, sales in Greater China came out on top, hitting 194.4 million euros, up from 82 million euros in the year prior.

On this point, Della Valle noted: “"The Asian markets, in which our group is present with a widespread network of points of sale, made a great contribution to revenue growth in the period; we are equally satisfied with the results recorded in the domestic market and in the rest of Europe, driven by local demand, as well as purchases by tourists."

‘We are confident about the profitability of the half-year…’

In Italy, the group reported sales of 122.9 million euros, an increase from 109.5 million euros, while in wider Europe revenue hit 116.7 million euros.

The company’s retail channel, which accounts for 75 percent of its sales, also welcomed a slight growth compared to the previous year, while its e-commerce channel was another to perform well, consolidating the results of important investments made in the digital world. Wholesale also grew double-digits.

Della Valle concluded: "We are reaping great approval from consumers looking for quality, elegance, sophistication and the Italian lifestyle. The group, as always, is attentive to issues related to sustainability and social solidarity with many initiatives.

“At this time, particular attention is devoted to trying to encourage young people to professionally choose trades representative of the best quality Italian craftsmanship.

"Considering the solidity of growth, the favourable revenue mix and the attention devoted to cost control and improving operating efficiency, we are confident about the profitability of the half-year and the prospects for the full year, despite the uncertainty and volatility of the macro-economic environment at the international level."