The luxury slowdown also affected Tod’s. The Marche-based group closed 2024 with declining revenue and a loss, mainly to China. Meanwhile, the reorganization of the company’s corporate structure after its exit from the Milan Stock Exchange 13 months ago has come to a close.
Declining revenue and a loss
Tod’s Group joins the long list of independent groups and companies that filed a worse 2024 (than 2023). The company’s consolidated financial statements, which Affari & Finanza by Repubblica writes about, show a slight decline in revenue from 1.12 billion euro in 2023 to just over 1 billion in 2024. EBIT (gross operating margin) fell from 94.7 million in 2023 to -2.6 million, which is while the group had reported a net profit of 50 million euro in 2023, 2024 ended with a loss of more than 29 million. The performance of the group’s individual brands (Tod’s, Roger Vivier, Hogan, and Fay) isn’t known.
Assets
The group’s net worth amounts to more than 1 billion, while debt is 644 million. Investments last year summed up to 52.6 million, compared to 55.8 million in 2023. Affari & Finanza also highlights a €400 million bank loan (maturity 2030) that the group obtained from a pool of banks in March 2025.
The comment
“The group’s results were lower than expected at the beginning of the year, mainly due to the significant weakness of consumption recorded in the important market of China, which continued beyond what had been hypothesized”, is the comment of owner Diego Della Valle. Therefore, in 2025 it will be important to find the right balance between investments to support brand growth in a very competitive market, and attention to costs, with the goal of defending profitability”.
After delisting
Tod’s latest Board of Directors, reports Repubblica, gave the green light to the proposed reverse merger by incorporation of Crown Bidco (the L Catterton company used for the delisting). However, there are no significant changes in share capital, with Di.Vi. Finanziaria at 50.29%, LC Vista (L Catterton) at 36%, 10% to Delphine (Arnault family), 2.14% to Diego Della Valle & C., 0.81% to Andrea Della Valle, and the remaining 0.76% to his brother Diego.
Read also:
