Nothing but fog for the Tod’s group but Della Valle is optimistic: the “gommino” is the light at the end of the tunnel. The Tod’s group closed the first nine months of 2016 with a revenue of 757.7 million euro, down by 3.7% at current exchange rates (-4.4% at constant exchange rates). As far as the brands are concerned, Fay (+4.1% at 45 million) and Roger Vivier (+6.9% at 119 million) did well, while bad results were registered by Hogan (-2.9% at 171.9 million) and, above all, by Tod’s (-7.5% at 419.4 million). Geographically speaking: Italy -4%, Europe stable, the Americas -8% and Asia -10.4%. Chairman and CEO Diego Della Valle commented that “the collections now in the stores are receiving a positive response. We are optimistic that the trend will be positive in the last part of the year and have confidence in the group’s results in the future, in light of the work in progress regarding cost control, the development of organic growth and in the field of marketing”. Tod’s is focusing on the “gommino”, or shoe with a rubber sole that runs from the bottom of the shoe on to the suede of the new sneakers. It is reproduced in a patent version and sports a bicolour effect, in leather and fabric, in the latest Autumn-Winter collection.
The revenue of Tod’s is in the shadow (-3.7%), but Diego Della Valle is “optimistic”. Instead the company’s “gommino” is the light at the end of the tunnel
