It has been a positive year of sales for Tod’s, the Marche group led by entrepreneur Diego Della Valle, whose board includes the famous Chiara Ferragni. The company, listed on Piazza Affari, provided preliminary data for 2023; These data show that total revenues increased by approximately 12% to 1.12 billion euros. The performance could have been even more comprehensive, but the negative performance of some foreign currencies against the euro slowed growth. The performance of the just-ended year is better than recent years, when the group has struggled to cope with the competitive environment in the footwear and clothing industry.
Tod’s turnover is 562 million euros
The main brand of the group, Tod’s, achieved a turnover of 562 million Euros with an increase of 10.4%, while the luxury brand Roger Vivier reached 286 million Euros with a growth of 16.5%. Other Hogan and Fay brands are also growing well.
At the geographical level, sales showed very different speeds. Italy’s revenues recorded moderate growth of 5% (263 million euros), while turnover in the China region, which includes Hong Kong, Macau and Taiwan, increased by 24 percent to 356 million. The company stated that it achieved sales of 85 million euros in the Americas, a modest increase of 3.5 percent, but showed an “increasing trend in recent months.”
Della Valle commented, “Despite the challenging macroeconomic conditions at the international level, we are extremely pleased to have achieved the goals we set for ourselves at the beginning of the year.” “Considering the quality of the data, we are quite positive about the revenue results we can achieve and the excellent future growth capacity of our group. The trend of the world market is that more and more attention is paid to premium quality workmanship and the Italian lifestyle, making our brands increasingly attractive to consumers,” he added entrepreneur.
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
