Tod’s sees jump in first half sales
Luxury brand Tod’s has seen a jump in sales in the first half of its financial year after it experienced strong revenue growth in China.
In the six months to 30 June, sales came in at €398.4 million compared to €256.9 million in the prior year.
Tod’s said it had been very satisfied with the level of trading in areas where its stores had been regularly open and that online sales had been boosted by previous investments made in its digital division.
Looking at each of the group’s brands, sales at Roger Vivier surged by 83.6% while Hogan and Fay saw their revenues increase by 38% and 35% respectively. Meanwhile, Tod’s achieved an uplift of 50.9%.
During the period, the group’s net loss reduced to €20.7 million compared to a loss of €80.6 million in the first half of 2020.
Diego Della Valle, chairman and chief executive of Tod’s, said: “The second quarter of the year confirmed an acceleration of the group’s performance, especially in the areas of the world where the stores are working at full capacity. Very strong growth in China, while the areas penalised by the absence of tourists are still weak.”
Tod’s also revealed that its new autumn/winter collections have sold well since their arrival in-store.
Della Valle added: “I believe that the increase in volumes and the quality of revenues, together with the careful control of overhead costs, will
allow us to achieve a gradual improvement in margins.”
