The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Italian luxury group’s revenue was up 13.9 percent from 2021, and 10 percent from 2019 pre-pandemic levels, reaching just over €1 billion ($1.09 billion).
Though sales in Greater China were down 8 percent, sales in the Americas rose 31.2 percent. The Tod’s brand saw strong growth across product categories and geographies with revenue up 19.1 percent to €509 million, while the Roger Vivier brand saw a slowdown in March stemming from its China exposure. Revenue rose 7.1 percent to €264 million. The Hogan and Fay brands recorded growth in revenue of just above 10 percent.
”We are reaping the first results of the medium-term strategy that we have launched in recent years … We are continuing the development of our distribution network, with the opening of selected boutiques also in new markets and we are particularly focused on improving the organic growth,” said Diego Della Valle, chairman and chief executive of the group.
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Tod’s Nine-Month Sales Rise More Than Expected
Sales at Italian fashion group Tod’s rose by a bigger-than-expected 16.4 percent in the first nine months of the year, pushed by tourist flows and local demand in Europe and Italy.
Joan Kennedy is Editorial Associate at The Business of Fashion. She is based in New York and covers beauty and marketing.
The designer has always been an arch perfectionist, a quality that has been central to his success but which clashes with the demands on creative directors today, writes Imran Amed.
This week, Prada and Miu Miu reported strong sales as LVMH slowed and Kering retreated sharply. In fashion’s so-called “quiet luxury” moment, consumers may care less about whether products have logos and more about what those logos stand for.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.