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This Wednesday, the Tod’s group revealed very positive results for the first quarter of 2021. Indeed, the group’s turnover amounted to 178.7 million euros, an increase of 17% compared to last year. These results are very encouraging, given the news of the global health crisis.
Tod’s is an Italian fashion group operating in the luxury footwear, accessories and clothing sector. The group owns brands such as Tod’s, Roger Vivier, Hogan and Fay.
Recently, Tod’s stated in a press release that the LVMH group would buy a 6.8% stake from the founder and chairman of Tod’s, Diego Della Valle. It should be remembered that LVMH, headed by Bernard Arnault, previously held 3.2% of Tod’s capital, compared to 10% today. This decision led to a 13.37% rebound in Tod’s share price.
Despite the encouraging results, some of them remain lower than in previous years. The reason for this is the choice of caution due to the global pandemic and the strategic choice not to offer too many products on the market. These factors mean that revenues for the current year are 16.3% lower than in the first quarter of 2019.
Diego Della Valle, CEO of Tod’s Group, said in a statement: “The figures for the quarter reflect the various impacts of the pandemic. We have seen triple digit growth in China, the results of the Roger Vivier brand are remarkable. The e-commerce channel was also very strong, with impressive growth, even above our expectations. We had excellent results in those parts of the world where we were able to keep shops open, while results were weaker in the Western world, penalised by long shop closure periods. “
The group congratulates the brand’s performance and the excellent customer feedback for the new collection, combining craftsmanship and Italian-style lifestyle. Roger Vivier is up 13% year-on-year in 2019, thanks in particular to its greater exposure to the Asian market. It was the group’s best performing brand in the first quarter.
“It is worth noting that in the first quarter of 2021, on a global average, shops were only open for 84% of the period. This operating percentage drops to 67%, if we refer to Italy, and even to 47%, if we refer to the rest of Europe. Another element to highlight in the comparison between the two years is that the Chinese area was the most affected by the pandemic in the first quarter of 2020“, the group announced in a press release.
The results are also excellent in the retail channel, driven by strong growth in e-commerce, supported by the closure of “brick-and-mortar” shops.
These results give cause for optimism for the future, but are still subject to change due to the health crisis.
Read also > TOD’S SHARE PRICE REBOUNDS BY 13.37% AFTER LVMH’S DECISIONS
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This Wednesday, the Tod’s group revealed very positive results for the first quarter of 2021. Indeed, the group’s turnover amounted to 178.7 million euros, an increase of 17% compared to last year. These results are very encouraging, given the news of the global health crisis.
Tod’s is an Italian fashion group operating in the luxury footwear, accessories and clothing sector. The group owns brands such as Tod’s, Roger Vivier, Hogan and Fay.
Recently, Tod’s stated in a press release that the LVMH group would buy a 6.8% stake from the founder and chairman of Tod’s, Diego Della Valle. It should be remembered that LVMH, headed by Bernard Arnault, previously held 3.2% of Tod’s capital, compared to 10% today. This decision led to a 13.37% rebound in Tod’s share price.
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This Wednesday, the Tod’s group revealed very positive results for the first quarter of 2021. Indeed, the group’s turnover amounted to 178.7 million euros, an increase of 17% compared to last year. These results are very encouraging, given the news of the global health crisis.
Tod’s is an Italian fashion group operating in the luxury footwear, accessories and clothing sector. The group owns brands such as Tod’s, Roger Vivier, Hogan and Fay.
Recently, Tod’s stated in a press release that the LVMH group would buy a 6.8% stake from the founder and chairman of Tod’s, Diego Della Valle. It should be remembered that LVMH, headed by Bernard Arnault, previously held 3.2% of Tod’s capital, compared to 10% today. This decision led to a 13.37% rebound in Tod’s share price.
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