The Italian fashion group Tod’s SpA grew strongly in the first three months of the 2022 financial year. “In the first quarter of the year, we delivered a solid double-digit increase in sales, which was back above pre-pandemic levels,” said CEO Diego Della Valle in an interim statement published on Wednesday. After two “very strong” months worldwide for all group brands, growth in March was slowed down by the tightening of the Covid 19 protective measures in China, according to Della Valle. In Greater China, the group’s top-selling market, quarterly revenues increased by just nine percent (currency-adjusted +2 percent), while all other regions were able to show significantly higher growth rates.
In the months from January to March, group sales reached EUR 219.6 million. It thus exceeded the level of the same quarter of the previous year by 23 percent (currency-adjusted +20 percent). The Tod’s brand developed particularly well, with sales increasing by 36 percent (currency-adjusted +33 percent) to EUR 104.6 million. The Roger Vivier label, which has a particularly strong presence in China, saw sales increase by just eight percent (currency-adjusted +4 percent) to EUR 52.4 million. The Hogan brand increased its sales by 16 percent (currency-adjusted +15 percent) to 51.6 million euros, Fay’s sales were 10.9 million euros and thus nominally and currency-adjusted by 20 percent above the corresponding prior-year figure.
In its core business with shoes, the Group achieved sales growth of 17 percent (currency-adjusted +14 percent) to 173.4 million euros. Leather goods and accessories sales increased by 63 percent (+60 percent currency-adjusted) to EUR 31.6 million, while the apparel category increased by 31 percent (+29 percent currency-adjusted) to EUR 14.4 million.