(Alliance News) - Tod's Spa reported Wednesday that it ended 2023 with a 12 percent increase in revenues to EUR1.13 billion from EUR1.01 billion in 2022.

At constant exchange rates, the increase would be 14 percent to EUR1.15 billion.

Among products, footwear saw a 10% increase to EUR857.8 million from EUR776.9 million in the previous year, leather goods and accessories saw a 17% increase in revenues to EUR187.3 million from EUR160.6 million, apparel grew 17% to EUR79.1 million from EUR67.8 million while other products saw an increase to EUR2.5 million from EUR1.7 million.

Regarding the areas in which the group operates, sales in Italy rose 4.9 percent to EUR263.9 million from EUR251.7 million, sales in Europe rose 11 percent to EUR239.6 million from EUR216.7 million, sales in the Americas rose 3,5 percent to EUR85.0 million from EUR82.1 million, that in Greater China rose 24 percent to EUR356.7 million from EUR287.2 million, and in the Rest of the World, sales rose 7.2 percent to EUR181.5 million from EUR169.3 million.

The Retail channel saw a 13 percent increase to EUR841.8 million from EUR743.3 million while the Third Party Customer channel saw an 8.1 percent increase in sales to EUR284.9 million from EUR263.7 million.

Chairman and CEO, Diego Della Valle, said, "Our group ended the year with excellent sales results; all brands recorded double-digit growth in their revenues, at constant exchange rates. We are very pleased to have achieved the targets we had set ourselves at the beginning of the year, even within a macroeconomic context that is not easy at the international level. Excellent results for the Tod's brand, which is increasingly appreciated for its refined and modern style, an expression of the great craftsmanship of Made in Italy; its iconic products are increasingly loved by a growing number of customers of all age groups internationally."

"The Roger Vivier brand also did an excellent job, recording a solid double-digit growth rate in this fiscal year as well, preserving its exclusive positioning in the highest segment of luxury products. We are very pleased with the results of the Hogan and Fay brands, which grew at double-digit rates compared to last year, showing tremendous potential for future growth."

"Considering the good quality of the data, we are very positive about the income results we will be able to achieve, as well as the excellent future growth capacity of our group. The trend in the world market, which is increasingly focused on great quality craftsmanship and the Italian lifestyle, makes our brands more and more desirable to high quality consumers. Tod's group is, as always, very attentive to everything that can improve the conditions of its employees, activating with this spirit many useful projects and initiatives to improve the common welfare."

Tod's stock closed Wednesday down 1.2 percent at EUR30.84 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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