Tod's puts emphasis on digital after sales dip
28/10/2016
Leathergoods suffered the most, experiencing a 10.3% drop in revenue. This came despite a slight improvement in the third quarter. Sales from the group’s core footwear business fell 2.9% while its minor apparel business increased 0.9%.
“As expected, the sales figures for the nine months reflect a volatile and uncertain economic and financial environment, characterized by the persistent weakness of consumption in many important markets for luxury goods,” said Diego Della Valle, Tod’s chairman and CEO.
He added that the company is continuing to invest in the communication and marketing aspects of the business with a “particular emphasis on digital”.
Emilio Macellari, chief financial officer, clarified that the company was planning to use digital channels for “communication rather than distribution”. He added that they represent only a small part of Tod’s turnover, with online sales below 2%, although this is growing.
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