Tod's CEO predicts an improvement in the luxury sector in seven to eight months

Tod's expects the current slowdown in the luxury industry to end in seven to eight months, the president and CEO of the Italian shoemaker said, adding that this paves the way for a possible rebound.

Diego Della Valle said on Friday on the sidelines of the Tod's show in Milan that luxury goods groups had probably raised prices too much following the COVID-19 pandemic.

Tod's founders, according to private equity firm L Catterton, took the group private earlier this year.
Della Valle said the delisting had been beneficial, adding that the group had more freedom because it did not have to publish its results every quarter.

Luxury spending has slowed over the past year following post-pandemic euphoria, which has affected the results of luxury groups.

“In seven or eight months this crisis will turn positive and, as happened after the pandemic, maybe we will be able to take advantage of it,” Della Valle said.