Tod’s, + 39% in revenues in 2021 Della Valle: “We are at pre-Covid levels Thanks to careful cost management”

ENTERPRISES – Progressive acceleration throughout the year. Operating result higher than that of 2019. Sales of the e-commerce channel + 103%


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Diego Della Valle

«The results recorded by our Group in the 2021 financial year were very satisfactory and exceeded our expectations. Revenues grew by 39% compared to 2020 and returned to levels close to pre-Covid levels, with a progressive improvement quarter after quarter, particularly in the Tod’s and Roger Vivier brands. Excellent performance of the e-commerce channel, which recorded revenues more than double compared to 2019 ». This is the comment by the president and CEO of the Tod’s Group, Diego Della Valle on the growth in revenues in the year 2021.

The Tod’s board has in fact aThe draft financial statements for the 2021 financial year have been approved with revenues equal to 883.8 million euros. The net result of the group amounted to -5.9 million euros. The upre-tax tile: € 2.5 million while the net financial debt is 70.3 million euros excluding the 448.6 million euro of the liabilities for the rental contracts of the shops. The BoD proposes not to distribute a dividend

The Board of Directors of Tod’s spa, a company listed on the Milan Stock Exchange and at the head of the Italian luxury group of the same name, active in the creation, production and distribution of luxury and high quality footwear, accessories and clothing with the Tod’s, Hogan brands , Roger Vivier and Fay, today, it was said, approved the draft budget for the 2021 financial year.

«The strong growth in sales and the careful management of costs in all areas of activity have contributed to an important recovery in the Group’s profitability. The results we are recording in stores in the first months of the year are very good, confirming the growing appreciation of customers for our brands and products. The Fall / Winter 2023 collections, presented during the last Fashion Week, also received an extremely positive reception from our customers, which allowed us to create an excellent sales campaign for next autumn / winter. In addition to the management of the group, we are very focused on the growth and positioning of the individual brands, in order to enhance them more and more, dedicating all the necessary investments to them. The Group has activated humanitarian operations in support of people in difficulty due to the ongoing war, with the hope that everything will soon be over. Despite the uncertainty of the geo-political, economic and health context at an international level, we can look forward to 2022 with optimism, confident of being able to achieve further solid growth in revenues and a further important recovery in profitability “.

Comment on the Group’s Turnover data“In the 2021 financial year – adds Della Valle – the consolidated turnover of the Tod’s Group amounts to 883.8 million euros, up 38.7% compared to 2020, and has almost entirely recovered the levels recorded before the Covid pandemic. -19 (-3.5% compared to 2019). During the year, sales recorded a progressive improvement compared to the previous year; in the fourth quarter of the year alone, revenues amounted to € 261.2 million, + 41.6% compared to the fourth quarter of 2020 and + 9.6% compared to the fourth quarter of 2019.

The above figures are affected by the negative impact of exchange rates, particularly for the Tod’s and Roger Vivier brands, which have the largest presence abroad; at constant exchange rates, i.e. using the same average exchange rates as in 2020, including the effects of hedges, the Group’s revenues amounted to € 886.8 million (+ 39.2% compared to 2020 and -2.7%2 compared to 2019).

As already commented in the previous quarters of the year, it is of little significance to make a comparison only with the 2020 sales results, which were heavily influenced by the Covid-19 pandemic; in the following tables we therefore also report the comparison, at constant exchange rates, with the data for 2019 and we refer particularly to the latter, for comments “.

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About David Martin

David Martin is the lead editor for Spark Chronicles. David has been working as a freelance journalist.

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