MILAN (Reuters) – Sales at Italian fashion group Tod’s came just over 1 billion euros ($1.09 billion) at current exchange rates last year, up 10% compared to pre-pandemic level, pushed by the strong growth of its main homonymous brand despite COVID curbs in China.
Full-year revenues grew by 11.4% at constant exchange rates to 984 million euros. Analysts had expected 985 million euros in sales, according to a company provided consensus.
“The growth was driven by the retail channel and the Tod’s brand, which recorded excellent results in all product categories”, founder and CEO Diego Della Valle said in a statement.
He added he was confident in future results due to “the excellent start to the year and the solidity of the order book for next season”.
The founding family of the Italian luxury shoemaker ditched last month a plan to delist the company after its initial buyout failed to meet the required threshold of support.
The de-listing was the Della Valles’ latest attempt at revamping a group that built its name on craftsmanship but has struggled, like other Italian names, to appeal to younger shoppers in recent years.
($1 = 0.9174 euros)
(Claudia Cristoferi, editing Federico Maccioni)