The company reported consolidated sales of €1.007 billion in 2022, up by 13.9% over the 2021 financial year and 10% higher than pre-pandemic 2019.
The group noted that currency impacts were positive, particularly for the Tod’s and Roger Vivier brands, and its revenue for the period totalled €984.2 million, an increase of 11.4% year-on-year.
The Tod’s brand achieved consolidated sales of €510 million, up by 19.1% over 2021. Meanwhile, Roger Vivier totalled €246 million (up by 7.1%), Hogan brought in €195.9 million (up by 10.9%), Fay achieved €53.4 million (up 10.7%) and Other brands were flat at €1.7 million.
Looking at the group’s consolidated sales by category for the 2022 fiscal year, shoes were up by 10.5% to €776.9 million. Meanwhile, leather goods and accessories recorded the highest growth, up by 33.7% to €160.6 million, while apparel was up by 13.9% to €67.8 million and the Other category was flat at €1.7 million.
Regionally, Tod’s reported that its Rest of World region achieved the highest growth in 2022 at 43.3% to reach €169.3 million, while Greater China had the only decline, falling by 8.4% to €287.2 million. Meanwhile, the group’s home market of Italy was up by 15.9% to €251.7 million, Europe excluding Italy climbed by 25.6% to €216.7 million and the Americas achieved growth of 31.4% to €82.1 million.
Tod’s noted that the Rest of World region was driven by excellent results in Japan and Korea, while strong growth in Italy and the rest of Europe came thanks to the dynamism of the domestic customers’ demand and the good presence of intra-European, American and Middle Eastern tourists.
Greater China, meanwhile, was affected by Covid-19 restrictions and consumer demand continued to be volatile even after the easing of these measures towards the end of the year. Finally, the American market was aided by a favourable comparison base, despite the shift of purchases of the American cluster abroad, especially during the summer months.
Diego Della Valle, Chairman and CEO of the group, said: “Our group’s performance last year has been good and satisfying. In 2022, we successfully laid the foundations for future turnover’s growth.
“We continue to remain focused on enhancing organic growth in our stores and developing our omni-channel strategy, while continuing to invest in the digital world. It is equally important to protect our supply chain, which guarantees us the best possible quality, much appreciated by our consumers all over the world and which reinforces the desirability of our Italian lifestyle products.
“Great emphasis is also given to the world of sustainability, solidarity and welfare, in which our group has been active for many years. Now that the organisation structure is ready and the necessary investments are underway, we expect a growth in turnover in the medium term and, subsequently, very satisfactory profitability.
“Considering the excellent start of the season in our stores and the solidity of the order book for next season, we are very confident about the group’s future results, even in an international context that remains uncertain and unpredictable.”
