Tod’s believes in strategy despite dip in revenue
19/03/2019
Footwear remains the group’s most important category in terms of sales. This category brought in revenue of €743.7 million, down 1.9% year-on-year. Sales of leathergoods and accessories totalled €128.6 million, a drop of 5.2%. Apparel revenue fell 2% to €67.3 million.
The Tod’s brand made up the majority of the overall group’s value. It achieved sales of €498.7 million, down 3.3% compared to 2017. There were also declines for Roger Vivier (-3.2%) and Fay (-3.5%), although the Hogan brand banked a 1.1% increase in sales.
Discussing the results, Tod’s chairman and CEO, Diego Della Valle, said: “FY 2018 results reflect the industrial plan underway in the Group and the strategic decision to invest significant financial resources to support future revenue growth. We are working to ensure that the development plan for the coming years can be fully implemented as soon as possible.”
He added that the group believes the “business models” it is developing for the individual brands are the correct ones. He explained that Tod’s will continue to highlight “the excellence of our products, in terms of quality, craftsmanship, style and creativity” in order to differentiate them from those offered by other luxury groups.
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