Roger Vivier and China are the drivers behind Tod’s growth. The 3rd quarter of 2021 was even better than the same one of 2019 for the group owned by Mr. Della Valle, showing that the brands are recovering after the hit taken form the pandemic. Revenue during the third quarter confirmed the positive trend that we started seeing a while back”, commented Della Valle.
Joy for Della Valle
“We are especially satisfied by the fact that retail sales during the quarter have surpassed the numbers from 2019 and that this acceleration has been confirmed in October”, adds Tod’s’ CEO. Roger Vivier performed well and is up 14.2% (at constant rates) on the same period of 2019. The other brands (Tod’s, Hogan and Fay) though, continue to struggle and remain in the red (from -11% to -18%) compared to 2019. Hogan and Fay – reads the statement -, are the brands most influenced by the European/Italian marketplace and wholesale channel.
Chinese polar star
Beside from Vivier, Tod’s other polar star is China, where the group seems to have had a change of pace. Sales increased by 45.4% compared to 2019. Beijing “is growing and continues to give us great results. But, thanks to local consumers in different countries, we are seeing success in the rest of the world as well”, continues Mr. Della Valle. He also doesn’t forget “the growth of the e-commerce channel. Our focus now is to improve the structure of our organization and build on it”.
Footwear and leather goods
As far as products go, leather goods and accessories’ revenue had double-digit growth, compared to the 3rd quarter of 2019. The retail channel for the aforementioned categories also did well, even though the overall result is impacted by the rationalization of the wholesale channel. Revenue for the July-September 2021 quarter amounted to 224.3 million euro, up 14.6% compared to the same quarter of 2020 and above the amount recorded for 2019’s 3rd quarter. The overall revenue for the first 9 months of the year was 622.6 million euro: up +37,6% on 2020 and -6.9% on 2019.
Image: Diego Della Valle, June 2021 (photo from Imagoeconomica)