Tod’s strengthening younger clientele marketing following strong financial year
Sales at Italian fashion group Tod's reached over £880 million (€1 billion) in the 2022 financial year, with the business seeing impressive results across its retail channels.
The group’s financial report revealed overall revenues in 2022 were up 13.9% year-on-year. The rise in revenues represented an approximate 10% growth compared to the pre-pandemic levels of 2019.
Tod’s brand revenues increased by 19.1% and overall leather goods sales increased by 33.7%. The impact of currencies was positive, particularly for the Tod's and Roger Vivier brands, which have the largest presence abroad.
Tod's brand recorded an excellent growth rate in all geographical areas, both in the shoe category and in the new families of leather goods and accessories.
Diego Della Valle, Chairman and CEO of Tod’s Group, commented: “I am very satisfied with the goal achieved. The growth, in fact, was driven by the retail channel and the Tod's brand, which recorded excellent results across all product categories. We are pleased to note that our customers are increasingly appreciating the very high quality of our products, their craftsmanship and their iconic Italian lifestyle with a strong creative value.
“We are continuing the development of our distribution network, with the opening of selected boutiques also in new markets and we are particularly focused on improving the organic growth. We are also increasingly strengthening our marketing and communication team, with particular attention to the digital world, to get closer and closer to younger clientele. Considering the excellent start to the year in our stores and the solidity of the order book for next season, we are very confident regarding the group's future results.”
Last month, the Della Valle family of the group ditched a plan to delist the company after its initial buyout failed to meet the required threshold of support. The delisting was the Della Valle family's most recent attempt at revamping the business.