Strong Performance in Greater China Drives 23% Yearly Rise in Tod’s Revenues
Italian luxury leather goods company Tod’s has revealed its positive outlook for first-half profits while announcing a significant 23% year-on-year rise in revenues, accounting for currency fluctuations. The primary contributor to this growth was the exceptional performance in its main market, Greater China.
![Diego Della Valle](https://theimpression.com/wp-content/uploads/2023/08/Diego-Della-Valle.jpg)
We are confident on the profitability of the semester and on the results for the full year, despite the uncertainty and volatility of the macro-economic context at an international level.
Diego Della Valle, CEO Tod’s
The brand disclosed that its sales for the January-June period reached 574 million euros ($636 million). The crown jewel of the brand, Roger Vivier, experienced a remarkable 30% growth, while Tod’s itself saw its revenues climb from 234 million to 287 million euros compared to the previous year.
Particularly noteworthy was the outstanding 45% surge in sales within the Greater China region, amounting to 196 million euros when measured in constant currencies. It’s worth noting that the Americas were the only region to experience a slight dip in revenue.
Currency effects were negatively impacted by 5 million euros.
CEO Diego Della Valle expressed confidence in the company’s profitability for the semester and the full year, despite acknowledging the uncertainties and macroeconomic fluctuations on the global stage.
![](https://theimpression.com/wp-content/uploads/2023/08/Tods-atm-F23-006-scaled.jpg)
Tod’s, whose founder Diego Della Valle has previously aimed to privatize the company by acquiring minority shares, attributed the positive results to a combination of tourism and local demand in European markets. Additionally, the brand enjoyed a robust performance in Japan.
The retail channel, which represents over 75% of Tod’s Group turnover, displayed a slight acceleration in growth at constant exchange rates, surpassing the performance observed in the earlier months of the year.