Tod’s Group exceeds one billion euros in revenue for 2022

Italian fashion conglomerate Tod’s Group has announced that its revenues for FY22 exceed one billion euros, a 13.9 percent growth on FY21 and 10 percent higher than the pre-pandemic level of 2019.

The group, which owns the likes of Tod’s, Roger Vivier, Hogan and Fay, said all product categories had posted a “solid” double-digit growth, particularly its leather goods and accessories which saw a 33.7 percent increase when compared to the previous year.

In terms of brands, Tod’s, which has the most balanced geographical mix, had the strongest growth rate of 19.1 percent – a result the company said confirmed customer appreciation for the brand’s collections.

Roger Vivier also reported positive results, albeit coming in with the lowest growth of 7.1 percent, which was impacted by a slowdown in sales in March in line with its reliance on the Chinese market.

Meanwhile, both Hogan and Fay reported double-digital increases in revenue, largely based on their exposure to the Italian and European markets which had been impacted by lockdowns during 2021.

The group’s retail channel came in at 743.3 million euros in revenues for 2022, representing 74 percent of its turnover, with a growth of 12.7 percent.

Third-party sales, via franchises and independents, saw the biggest growth, however, at 17.5 percent, with revenues totalling 263.6 million euros.

Tod’s set to open new stores and enter new markets

In a release, Diego Della Valle, chairman and CEO of the group, stated: “We are reaping the first results of the medium-term strategy that we have launched in recent years, which aims to increase the equity value of the group and of each individual brand, allocating all the investments necessary to obtain this result.

“We are pleased to note that our customers are increasingly appreciating the very high quality of our products, their craftsmanship and their iconic Italian lifestyle with a strong creative value.”

Della Valle added that the company would continue to develop its distribution network by entering new markets and opening select boutiques, while also strengthening its marketing and communications team, particularly within the digital world in a bid to get closer to a younger audience.

He concluded: “Considering the excellent start to the year in our stores and the solidity of the order book for next season, we are very confident regarding the group's future results.”