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Tod’s SpA, an Italian manufacturer of luxury shoes and other leather goods, has reported a 37.6 per cent sales jump to €622.6 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €452.6 million in the same period of previous fiscal. The pandemic affected the sales results in all geographic areas, product categories and both distribution channels of the company.
Tod’s SpA, a manufacturer of luxury shoes and leather goods, reported 37.6 per cent sales jump to €622.6 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to €452.6 million in the same period of last fiscal. The pandemic affected the sales in all geographic areas, product categories and both distribution channels of the company.
“The revenues of the third quarter confirmed the trend of improvement that we have begun to register for some time. We are particularly pleased to see that, in the quarter, retail revenues exceeded the values of 2019 and that the month of October is confirming this acceleration in sales results,” Diego Della Valle, chairman and CEO of Tod’s Group, said in a press release.
Tod’s SpA, a manufacturer of luxury shoes and leather goods, reported 37.6 per cent sales jump to €622.6 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to €452.6 million in the same period of last fiscal. The pandemic affected the sales in all geographic areas, product categories and both distribution channels of the company.
“All brands are progressing well and are increasingly appreciated by our customers in all regions worldwide. The collections currently in stores capture the attention of consumers for their quality, their modernity and their unmistakable Italian lifestyle,” Valle continued.
Tod’s SpA, a manufacturer of luxury shoes and leather goods, reported 37.6 per cent sales jump to €622.6 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to €452.6 million in the same period of last fiscal. The pandemic affected the sales in all geographic areas, product categories and both distribution channels of the company.
By brand, Roger Vivier brand was the best performer during the nine-month period with sales of €161.4 million, up 51.4 per cent over Q3 FY20. The other brands like Hogan and Fay achieved sales of €133.0 million and €31.5 million respectively, mostly influenced by their greater exposure to the Italian and European markets and to the wholesale channel. While the Tod’s brand which received a positive feedback on the autumn collections, in all product categories, reported sales of €296.1 million during the third quarter of FY21.
Tod’s SpA, a manufacturer of luxury shoes and leather goods, reported 37.6 per cent sales jump to €622.6 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to €452.6 million in the same period of last fiscal. The pandemic affected the sales in all geographic areas, product categories and both distribution channels of the company.
Regionally, sales from Italy increased by 22.2 per cent to €151.4 million (€123.9 million), while sales from Europe (excluding Italy) surged 10.5 per cent to €127.2 million (€115.1 million). On the other hand, sales from Americas jumped 60.1 per cent to €41.4 million (€25.9 million), and China region recorded a sales hike of 79.5 per cent to €224.0 million (€124.8 million). Furthermore, rest of the world suffered a temporary slowdown during Q3, mainly linked to Japan, accumulating sales of €78.6 million (€62.9 million).
Tod’s SpA, a manufacturer of luxury shoes and leather goods, reported 37.6 per cent sales jump to €622.6 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to €452.6 million in the same period of last fiscal. The pandemic affected the sales in all geographic areas, product categories and both distribution channels of the company.
The double-digit growth in the e-commerce channel, coupled with solid results in the group’s stores led to the sales growth in retail channel to €447.7 million (€304.2 million). Whereas the wholesale channel’s sales totalled to €174.9 million (€148.4 million), confirming its physiological downsizing worldwide, particularly visible on the European markets, according to the Italian luxury brand.
Tod’s SpA, a manufacturer of luxury shoes and leather goods, reported 37.6 per cent sales jump to €622.6 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to €452.6 million in the same period of last fiscal. The pandemic affected the sales in all geographic areas, product categories and both distribution channels of the company.
“The Chinese market is growing and continues to give us excellent results and, thanks to local customers in individual countries, we are also enjoying good success throughout the rest of the world. The growth of the e-commerce channel is very important and is giving excellent results, thanks to the investments made. Our production sites are well organized in order to face the growing demand for products, guaranteeing the highest possible quality,” Valle further said.
Tod’s SpA, a manufacturer of luxury shoes and leather goods, reported 37.6 per cent sales jump to €622.6 million in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to €452.6 million in the same period of last fiscal. The pandemic affected the sales in all geographic areas, product categories and both distribution channels of the company.
“The excellent growth trend in retail sales, even higher than in 2019, make us confident to hope that the increase in sales volumes, together with the careful management of overhead costs, will also allow us to improve the profitability of the group,” Valle concluded in the release.
Fibre2Fashion News Desk (JL)
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