Tod’s SpA, an Italian producer of luxurious sneakers and different leather-based items, has introduced its full 12 months monetary outcomes for FY20 ended on December 31, 2020. Gross sales throughout the 12 months plunged 30.4 per cent to €637.1 million in comparison with gross sales of €916.0 million within the earlier fiscal. The corporate incurred a internet lack of €73.1 million (FY19: revenue €45.6 million) in FY20.
“The 2020 outcomes have been deeply influenced by the pandemic, which notably hit the posh items trade, inflicting lengthy intervals of store closures in numerous areas of the world and the virtually complete disappearance of purchases linked to vacationer flows,” Diego Della Valle, chairman and CEO of Tod’s Group, stated in a press launch.
“We’re very pleased with the outcomes obtained with the e-commerce channel, which recorded a gradual acceleration throughout the 12 months, reaching and exceeding our expectations and which continues to be persevering with to develop at a really excessive price,” Valle added.
Gross sales of Tod’s model for FY20 fell 35.6 per cent to €297.5 million (€461.8 million), whereas gross sales of Roger Vivier decreased 20.2 per cent to €160.0 million (€200.5 million). Hogan model gross sales slipped 28.0