Tod’s reviews product strategy as sales decline

Worldwide
Published:  08 November, 2017

Sales for the Italian shoes and leather goods manufacturing Group totalled €722.2 million in the first nine months of 2017, down -4.7% against the same period in the prior year.

Sales for the Tod’s brand totalled €388.6 million in the first nine months of 2017, and Hogan revenues were €156.8 million, mainly attributed to a weakness in the Italian wholesale channel. Revenues of the Fay brand were €44.8 million, slightly lower year-on-year, while Roger Vivier totalled €131.3 million in sales (+up 9.6%), recording strong results in all markets, excepted for the U.S., which “continued to be penalised by the sharp drop of traffic in the stores”. Revenues from the footwear segment totalled €573.7 million (-4.9% reported), while sales of leather goods and accessories totalled €99.8 million (-3.8%).

During the Board meeting on November 6, Stefano Sincini announced he is stepping down from his role as General Managing Director of Tod’s SpA. He is to be replaced by Umberto Macchi di Cellere, previously Managing Director Worldwide Sales for all product categories for the Bulgari brand. Meanwhile, Tod’s Chairman Diego Della Valle is also said to be reviewing his position at the Group.

Tod's new, updated classic moccasin
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