Tod’s backtracks in 2019: sales decrease by 2.6%
The Italian company, owner of Roger Vivier, Hogan and Fay, has ended the year with sales reaching 916 million euros (1 billion dollars).
Tod’s sales shrink in 2019. The Italian luxury group that also owns Roger Vivier, Hogan and Fay, has ended the fiscal year of 2019 with 916 million euros (1 billion dollars),2.6% less than the previous year.
Aside from Roger Vivier, all the group’s brands have decreased their revenues throughout the year. Tod’s has reached sales of 461.8 million euros (509 million dollars), a 7.4% drop, while Hogan and Fay’s sales have fallen 4.7% and 8.2%, respectively. In parallel, Roger Vivie recorded a growth of 15.6% in revenue.
Tod’s cuts its sales in Italy by 7.6% in 2019
Additionally, the group’s business seems to have backtracked in all the regions where it operates. In Italy, its local market, Tod’s saw a decrease of 7.6%, while in the rest of Europe witnessed a 2.6% drop. The decline reaches America and China, where the group’s sales have dropped by 3.3% and 2.3%, respectively.
Given the results, Diego Della Valle, president and CEO of the company, said in a statement that the group’s priority is to create “an Omni-channel group model, which allows us to sell products through our direct distribution.”
The director has indicated that the Italian will take a step back from department stores. “The contribution of classic wholesale will be less and less important for us and we are prudently trying to decrease it,” explained Della Valle.
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