Consolidated sales for the Italy based footwear and leather goods Group, which owns the Tod’s, Fay, Hogan and Roger Vivier brands, were just over €1 billion in fiscal 2016, down 3.2% from fiscal 2015. Overall sales totalled €246.3 million in the fourth quarter of 2016, down 1.5% from the same quarter in 2015, this “implies a significant improvement compared to the first nine months of the year, and confirms the success obtained by the Autumn/Winter collections, thanks to their focus on iconic and evergreen products”, said the Group in a statement.

Sales for the Tod’s brand totalled €559 million in 2016, representing a 6.7% decrease compared with the previous year, attributed to “the sharp decline of traffic in the stores, in particular of tourists”. Revenues for Hogan were €214.2 million in the year, down 3.2%, mainly due to a lower performance in home market Italy, according to the Group.

Positive sales results were given by the Fay and Roger Vivier brands, whose revenues increased 5.3% and 6.6%, respectively, to €62.6 million and €166.3 million in fiscal 2016.