FY20 gross sales of Italian luxurious items producer Tod’s dips to €637 mn

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 per cent to €141.5 million (€196.5 million) and Fay gross sales have been down 33.2 per cent to €37.6 million (€56.3 million).

 

Categorically, gross sales of sneakers decreased 29.0 to €211.8 million (€367.8 million) throughout the reported 12 months. Whereas, leather-based items and equipment gross sales dropped 39.7 per cent to €73.4 million (€121.7 million) and attire gross sales dipped 29.4 per cent to €44.3 million (€62.7 million).

 

Tod’s gross sales decreased in all of the areas throughout FY20: Italy by 37.2 per cent to €163.7 million (€260.6 million); Europe (excluding Italy) by 37.1 per cent to €149.5 million (€237.6 million); Americas by 48.2 per cent to €36.6 million (€70.6 million); Larger China by 8.7 per cent to €196.5 million (€215.1 million); and Remainder of World by 31.3 per cent to €90.8 million (€132.1 million).

“We glance positively on the present 12 months, additionally strengthened by the superb feedback acquired from the brand new collections, though we should not neglect the persistent context of nice uncertainty, brought on by the unknown Covid-19, nonetheless very current in lots of elements of the world,” Valle stated within the launch.

Fibre2Fashion Information Desk (JL)

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. Firm incurred a internet lack of €73.1 million (FY19: revenue €45.6 million).

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