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Tod’s sales in 2021 exceeded expectations, with revenues of 884 million euros, up 38.7% compared to 2020.
While the year 2020 has largely impacted the world of international trade due to the Covid-19 pandemic, Tod’s sales have been negatively influenced on all continents in 2020. Nevertheless, the Italian group still recorded a gradual and significant improvement in revenues during the year in 2021.
Even if these results are lower than those achieved in 2019 (down 3.5%), we still can note an increase in sales of 9.6% in Q4 2021 compared to 2019. This clear improvement in sales resulted in a total amount of 261.2 million euros. We can also note that this increase in sales is higher by 41.6% compared to those achieved in Q4 2020.
“The fiscal year 2021 ends with positive sales results that exceed our budget expectations. The group’s revenues have returned to pre-COVID levels, driven by the acceleration of Tod’s in the second half of the year and the strong growth of Roger Vivier. Sales have progressively improved, showing significant growth in the fourth quarter compared to the same period of 2019” said Diego Della Valle, Group Chairman and CEO.
In 2021, Tod’s recorded a common increase in sales performance across its product categories.
In footwear, sales reached a total of 703.2 million euros in 2021, compared to almost 519 million euros in 2020, an increase of 35.5%. The category corresponding to leather goods and accessories has almost reached the results achieved in the pre-pandemic period. 120.1 million in 2021, a difference of only 0.5% compared to 2019. This is not the case for 2020, where sales in this category in 2021 are 63.6% higher than in 2020.
Which regions drive Tod’s?
The Italian luxury group has seen a significant increase in sales in Asia throughout 2021, compared to previous years. This is the only region where sales were higher in 2021 than in 2019. 313.4 million euros last year, an increase of 59.5% and 45.9% compared to 2020 and 2019.
Italy and Europe also performed very well in 2021, although the second largest market was the Americas. It has represented 62.9 million euros in 2021, an increase of 70.6% compared to 2020. Although it did not catch up with the sales results achieved in 2019, it is still the closest market to the sales rate achieved in 2019, with a drop of only 7.9%.
However, this sales momentum unfortunately could not fully reflect the sales capacity of the Italian group due to the lack of tourists, caused by the closure of many borders around the world.
Lastly, retail sales, both own and online, amount to 659.4 million euros in 2021, up 3.1% on 2019 and 47% on 2020; and represent approximately 75% of Group sales.
Finally, Tod’s CEO is optimistic about 2022: “The early feedback we are receiving from the new SS 22 collections currently in stores are very positive and they allow us to look forward to 2022 with optimism, provided that the current market conditions will not deteriorate due to the pandemic” .
Read also > RÉMY COINTREAU CONTINUED ITS STRONG GROWTH IN THE THIRD QUARTER OF 2021
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Tod’s sales in 2021 exceeded expectations, with revenues of 884 million euros, up 38.7% compared to 2020.
While the year 2020 has largely impacted the world of international trade due to the Covid-19 pandemic, Tod’s sales have been negatively influenced on all continents in 2020. Nevertheless, the Italian group still recorded a gradual and significant improvement in revenues during the year in 2021.
Even if these results are lower than those achieved in 2019 (down 3.5%), we still can note an increase in sales of 9.6% in Q4 2021 compared to 2019. This clear improvement in sales resulted in a total amount of 261.2 million euros. We can also note that this increase in sales is higher by 41.6% compared to those achieved in Q4 2020.
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Tod’s sales in 2021 exceeded expectations, with revenues of 884 million euros, up 38.7% compared to 2020.
While the year 2020 has largely impacted the world of international trade due to the Covid-19 pandemic, Tod’s sales have been negatively influenced on all continents in 2020. Nevertheless, the Italian group still recorded a gradual and significant improvement in revenues during the year in 2021.
Even if these results are lower than those achieved in 2019 (down 3.5%), we still can note an increase in sales of 9.6% in Q4 2021 compared to 2019. This clear improvement in sales resulted in a total amount of 261.2 million euros. We can also note that this increase in sales is higher by 41.6% compared to those achieved in Q4 2020.
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