Each of the group's brands experienced double-digit growth at constant rates. Tod's itself saw an increase from €510 million in FY22 to €562.9 million in FY23, a 10.4 percent increase at reported rates and a 12.8 percent increase at constant rates, Tod's said in a news release.
Italian company Tod's Group reported an 11.9 percent increase in FY23 sales to €1,126.7 million and a 14 percent increase at constant rates. Sales of the Tod's brand increased by 10.4 percent, Roger Vivier by 16.5 percent, Hogan by 9.3 percent and Fay by 13.2 percent. The company expanded its network to 345 DOS and 99 franchised stores as of December 31, 2023.
Roger Vivier's sales increased by 16.5 percent (19.4 percent at constant rates) to 286.7 million euros. Hogan also recorded growth, with sales reaching €214.2 million, an increase of 9.3 percent (10.1 percent at constant rates). Fay recorded a sales increase of 13.2 percent, reaching 60.4 million euros.
The group experienced growth in all regions, with notable results in its main markets. In Italy, sales increased by 4.9 percent to 263.9 million euros. Europe (excluding Italy) saw a 10.5 percent increase to €239.6 million. The Americas region saw a modest increase of 3.5 percent, with sales reaching €85 million. Greater China stood out with a notable increase of 24.2 percent (28.2 percent at constant rates), totaling 356.7 million euros. The rest of the world also saw an increase in sales, reaching €181.5 million, an increase of 7.2 percent.
As of December 31, 2023, Tod's Group's distribution network has expanded and consists of 345 directly operated stores (DOS) and 99 franchised stores. This is an increase from 333 TWO and 89 franchised stores as of December 31, 2022.
“Our group achieved excellent sales results in the year; All brands posted double-digit revenue growth, at constant exchange rates. “We are very satisfied to have achieved the objectives we set at the beginning of the year, despite a difficult macroeconomic context at the international level,” he stated. Diego Della Valle, president and general director.
Fiber2Fashion News Desk (DP)
