Tod's Reports 23% Sales Increase

Tod’s Reports 23% Sales Increase

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

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.

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.