China and leather goods are pushing Tod’s to record levels in terms of revenue. Preliminary data published y the Marche-based luxury group show a consolidated revenue of 1.127 billion euro or +11.9% on 2022 at current rates and +14% at constant rates. The performance of the leather goods lines (+16.6%) is better than the footwears’ one (+10.4%). “We are very satisfied with our performance, having reached the goals we had set for ourselves at the start of the year even within a global macro-economic context filled with challenges”, commented the CEO, Diego Della Valle (in photo from Imagoeconomica).
Look at that record
Preliminary revenue for Gruppo Tod’s for 2023 is slightly above the consensus set by analysts (1.12 billion). With regards to individual brands, Tod’s sales increased 10.4%, Roger Vivier’s by 16.5%, Hogan recorded a +9.3% and Fay +13.2%. Considering the 4th quarter only (2023), the group’s growth equaled 7.5% at constant rates.
“Strong growth capabilities”
“Considering the solid quality of data, we are positive about the results we could obtain, as well as our strong growth capabilities for the future”, continues Della Valle. “Gruppo Tod’s is, as always, very attentive on how to improve the working conditions of its employees, activating projects and initiatives leading to increased welfare”.
Solid sales levels in China
Sales in China went very well during 2023. They grow 24.2% at current rates. “Revenue in this area experienced solid double-digit growth, even compared to 2021”, says the company in the note accompanying the results. Even Europe (excluding Italy), grew 10.5%.
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