Tod’s group up by 19% in Q1, sees triple-digit China growth
Milan-listed Italian luxury goods group Tod’s, home to the Tod’s, Hogan, Roger Vivier and Fay brands, recently publicised its first-quarter 2021 results.
The group grew by 19% at constant exchange rates in the three months to end-March, it said, thanks to post-pandemic recovery across Greater China, which was up 142%.
Leathergoods and accessories grew by 11.5%. Group footwear also increased by 22%.
At the brand level, Roger Vivier notably posted strong growth of 63%, which Tod’s attributed to its greater exposure to the Asian market. This was followed by Hogan (up 12%) and Tod’s (up 8%).
Overall, group sales were €178.7 million (around $216.6 million), compared with analyst forecasts of €168 million, according to financial market data provider Refinitiv’s published consensus (cited by Reuters).
“The figures of the quarter reflect the different impacts of the pandemic,” chairman and chief executive of Tod’s, Diego Della Valle, said. “Despite the challenging global economic scenario, we are facing the current year with enthusiasm and optimism, very convinced of our products and our strategies.”
LVMH increased its stake in Tod's to 10% last month.
