Tod’s sales rise 15% in Q3

Italy
Published:  12 November, 2021
Credit: Tod's

The Italian luxury group has released its third quarter 2021 financial results, showing sales growth of 15%, and 40% for the year so far.

Sales rose to €224.3 million (US$259 million) in the quarter, compared with €223 million (US$255 million) in the same period in 2019.

Overall revenues in the January-to-September period were still 6.9% below 2019 results but surpassed the pre-pandemic levels in the third quarter.

The group is optimistic going forward as it recovers from a revenue drop of almost 33% during the pandemic, putting Tod’s among the worst performers in the luxury industry.

Tod’s announced the exit of CEO Umberto Macchi di Cellere last month, who will be succeeded by Chairman Diego Della Valle and his brother Vice Chairman Andrea Della Valle, while former Dior executive Simona Cattaneo joins the group as General Manager.

Source: Business of Fashion