Italian fashion house Tod's revenue climbs 23.3% in Q1 FY23

The results were driven by strong performances from Tod's, up 24.4 per cent year-on-year (YoY), and Roger Vivier, up 30.9 per cent YoY, with iconic shoe, leather goods, and accessory families receiving strong customer acceptance. The presence of both brands in China's luxury malls through their own networks of points of sale contributed significantly to the growth, the company said in a press release.

Consolidated sales by product category saw double-digit growth across the board, with leather goods surging by 36.5 per cent YoY and shoes increasing by 19.3 per cent YoY. Geographically, all regions experienced strong growth, with Italy and Europe rising 18 per cent YoY and China up 29 per cent YoY.

The retail channel, which accounts for more than 70 per cent of the group's turnover, registered a 23.6 per cent YoY growth in revenues. The e-commerce channel also benefitted from the significant investments made by the group in the digital world.

Diego Della Valle, chairman and CEO, said: “Sales data for the first quarter of 2023 confirm the excellent performance of our group: all brands recorded solid double-digit growth in revenues. Results were outstanding for Tod's and Roger Vivier, with excellent feedback in all product categories, confirming our customers’ ever-increasing appreciation for the very high quality of our products, their craftsmanship and their Italian lifestyle.

“All geographic areas are growing. The group recorded excellent results in both the Italian and the European markets, thanks to both solid local demand and tourists’ purchases. The contribution of the Chinese market, where our Group is present with an important network of stores, was very important, with the returning to excellent growth rates following the lifting of the COVID-19 restrictions.”

Fibre2Fashion News Desk (DP)