Tod’s to face transitional 2018 after tough 2017. Despite dropping revenues (-4,1 per cent), Della Valle keeps optimistic

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Tod’s group’s closing turnover, at the end of 2017, amounted to 963,3 million euros (less than one billion euros then), thus decreasing by 4,1 per cent compared to 2016 (actually -3,1 per cent at fixed rates of exchange). The last quarter trend was negative, “still things have been going better compared to the first nine months of 2017”, points out the group, owned by the Della Valle brothers, in their press release. At current rates of exchange Tod’s brand has been dropping by 7,7 per cent, “mostly due to footwear, also hindered by a few delayed deliveries earlier in the year. And we never made up for delay”, emphasizes the group’s statement. Hogan has gone down by 4,8 per cent: “Such decrease is mainly due to the weakness of the Italian market; conversely, our performance abroad has been positive, both for retail and wholesale business”. Good news from Roger Vivier, which increased by 7,8 per cent, and fairly nice ones from Fay: +1,4 per cent. On the whole, footwear, which represents 79 per cent of the group’s overall turnover, has been dropping by 4,2 per cent, owing to “the weakness of the wholesale channel of sales”; leather goods and accessories went down by 4,7 per cent, while apparel increased by 0,5 per cent. Nevertheless, Diego Della Valle keeps optimistic while highlighting improvements achieved in the final part of the year: “2018 is going to be a transitional year: we changed our managers a great deal, and they are already at work. I figure that we will appreciate their work in the second part of the year. We are confident in the months to come and we are going to think positive”. The president of the group has emphasized the double-figure growth of online sales, as he stressed the fact that “in some markets traditional distribution is bound to slow down”.

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