‘Special, innovative’ products are the way ahead for Tod’s
14/11/2018
The Tod’s brand accounted for 53% of group sales, but its revenues for the nine-month period were down by 3.1%, reaching €376.3 million. Sales for the Hogan brand were up slightly, by 0.9%, reaching €159.3 million.
For its part, the Roger Vivier brand brought in revenues of €127.4 million, down by 3% compared to the first nine months of last year, while footwear sold under the Fay brand contributed €43.5 million, 2.8% less than last year.
Across all of the group’s brands, footwear sales accounted for almost 80% of total revenues, bringing in €562.2 million. Leathergoods was the second-most important category, contributing revenues of €96.1 million. Most of the rest of the group’s revenue comes from apparel. Revenues for each category declined, by 2%, 3.7% and 1.8% respectively.
Chief executive, Diego Della Valle, said the results were in line with expectations. He explained that the group’s strategy for generating growth centres on supplying new product to its stores every two months, with “strong and proper marketing and communications plans” to support them.
He said this new way of working, concentrating on frequent capsule collections, will generate innovative products “with a strong creativity content”. He added that, with large fashion groups now concentrating on products that Tod’s regards as being core to its business, the group’s own products will have to be “special and innovative” to be able to compete.
Share this story:
