The Italian fashion group Tod’s SpA achieved a significant increase in sales in the 2022 financial year. Losses in China were more than offset by strong growth in the other market regions. This is the result of preliminary figures published by the company on Wednesday.
According to this, group sales last year amounted to 1.01 billion euros, which means an increase of 13.9 percent (currency-adjusted +11.4 percent) compared to 2021. In Italy, revenues grew by 15.9 percent to 251.7 million euros, in the rest of Europe they increased by 25.7 percent (currency-adjusted +24.6 percent) to 216.8 million euros. In America, sales increased by 31.2 percent (currency-adjusted +19.9 percent) to 81.9 million euros.
On the other hand, sales declined in the Greater China region, where stricter protective measures against the Covid-19 pandemic had a significant impact on business at times. Sales there shrank by 8.4 percent (currency-adjusted -14.0 percent) compared to the previous year to EUR 287.2 million.
In contrast, the Group achieved significant growth in other important Asian markets such as Japan and South Korea. Revenues in the “Rest of the World” segment, which also includes these countries, increased by a total of 43.3 percent (currency-adjusted +46.4 percent) to EUR 169.3 million.
The parent company of the Tod’s, Roger Vivier, Hogan and Fay brands achieved the majority of its sales with shoes. Revenues in this category increased by 10.5 percent (+7.6 percent after currency adjustments) to EUR 776.8 million. Sales of leather goods and accessories grew by 33.7 percent (currency-adjusted +31.8 percent) to EUR 160.6 million, while the clothing segment increased by 13.9 percent (currency-adjusted +13.2 percent) to EUR 67.8 million to.