A great recovery by Tod’s Group during the first half of 2021 (thanks to Roger Vivier), even if the overall performance remains negative. Moreover, revenue was below that of 2019. China and online are factors that contributed to a positive performance. Diego Della Valle believes an additional profitability improvement is underway, and said to be “very satisfied with the good start of the Fall collections currently in stores”. The BoD, meanwhile, approved the incorporation of two entirely controlled companied: Filangieri 29 and Del.pav, both of which managed 3 stores in Italy each.
Tod’s Group’s recovery
During the first 6 months of 2021, consolidated revenue for the Group amounted to 398.4 million euro, up 55.1% from the same period of 2020, but 10.9% below that of 2019. The EBIT was -13.9 million euro, a loss far better than the -106 million from the 1st half of the year. Worth mentioning is also the growth of Roger Vivier: +14.2% compared to the January-June period of 2019. Compared to the 1st semester of 2019, Tod’s sales decreased by 17.1%, Hogan’s by 19.4% and Fay’s by 22.2%. Footwear (-9,5% on 2019) did better than leather goods (-18,3% on 2019).
Relevant growth in China
“The 2nd quarter of the year confirmed the Group’s acceleration towards solid performances, even more so in areas of the world where stores are working at full capacity. The growth in China was particularly relevant, while other areas are still penalized by the lack of tourists”, commented Diego Della Valle. “Roger Vivier had very good results. We are very satisfied by consumer feedback, with regard to Tod’s collections, for both footwear and leather goods”. The entrepreneur says he is pleased by the growth of online sales and believes in a progressive increment of profitability”.