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.
MILAN, Italy — Italian luxury goods maker Tod's has budgeted for a potential hit from continuing unrest in Hong Kong and is seeing signs of progress with the brand's turnaround strategy, the head of the company said on Friday.
Rival Moncler this week gave warning that the Hong Kong civil rights protests were denting sales in the area, spreading concerns across the luxury retail sector.
However, Tod's founder and top shareholder Diego Della Valle said the civil unrest in Hong Kong "is not worrying as of today," adding that he hoped the situation would calm down soon and "not just for the sake of selling more shoes."
He also gave reassurance on the turnaround efforts of the group famous for its Gommino loafers.
ADVERTISEMENT
"We're doing what we need to do," he said on the sidelines of the label's spring-summer fashion show in Milan.
"We're in line with our schedule and I'm sure, soon, all will be satisfied. The first signs (of the turnaround) are becoming apparent."
The group, which owns also the Hogan and Roger Vivier brands, launched a new business model dubbed Tod's Factory in late 2017 to reverse falling sales and refresh its namesake brand, offering new products and more frequent collections, backed by significant marketing investment.
By Claudia Cristoferi; editor: David Goodman.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.