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Each of the group’s brands experienced double-digit growth at constant rates. Tod’s itself saw an increase from €510 million in FY22 to €562.9 million in FY23, a 10.4 per cent increase at reported rates and a 12.8 per cent increase at constant rates, Tod’s said in a press release.
Italian company Tod’s Group reported a 11.9 per cent increase in FY23 sales to €1,126.7 million, and 14 per cent increase at constant rates.
Tod’s brand sales rose 10.4 per cent, Roger Vivier 16.5 per cent, Hogan 9.3 per cent, and Fay 13.2 per cent.
The company expanded its network to 345 DOS and 99 franchised stores as of December 31, 2023.
Roger Vivier’s sales surged by 16.5 per cent (19.4 per cent at constant rates) to €286.7 million. Hogan also reported growth, with sales reaching €214.2 million, a 9.3 per cent increase (10.1 per cent at constant rates). Fay showed a 13.2 per cent rise in sales, amounting to €60.4 million.
The group experienced growth in all regions, with outstanding results in its main markets. In Italy, sales increased by 4.9 per cent to €263.9 million. Europe (excluding Italy) saw a 10.5 per cent increase to €239.6 million. The Americas region had a modest increase of 3.5 per cent, with sales reaching €85 million. Greater China stood out with a remarkable 24.2 per cent increase (28.2 per cent at constant rates), totalling €356.7 million. The rest of the world also saw an increase in sales, reaching €181.5 million, a 7.2 per cent rise.
As of December 31, 2023, Tod’s Group’s distribution network has expanded, consisting of 345 directly operated stores (DOS) and 99 franchised stores. This is an increase from 333 DOS and 89 franchised stores as of December 31, 2022.
“Our group achieved excellent sales results in the financial year; all brands recorded revenue double-digit growth, at constant exchange rates. We are very satisfied with having achieved the objectives we set ourselves at the beginning of the year, despite a difficult macroeconomic context at an international level,” said Diego Della Valle, chairman and CEO.
Fibre2Fashion News Desk (DP)
