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TOD'S registers profit rise in the first half of 2010
News 28 August 2010
Italian luxury group TOD'S announced exceptional financial results for the first half of 2010, with a 21,6% growth of its net income to EUR 52,4 million, while its sales grew by 5,2% to EUR 377,5 million.
TOD'S Group includes the following leather shoes and accessories brands: Tod's, Hogan, Fay and Roger Vivier.
Tod’s brand revenues totalled 195.9 million Euros in the first six months of 2010, with growth of 8.4% from H1 2009. The growth was mainly driven by shoes and handbags.
The Hogan brand totalled 137.5 million Euros in sales, with growth of 4.2% from H1 2009. This performance has been driven by the strategic goal to preserve its long term exclusivity and image.
Fay brand revenues were 34.3 million Euros in the first six months of 2010. As for the Roger Vivier brand realized 9.5 million Euros in revenues in H1 2010, with growth of 28.3% from H1 2009. In the next few seasons, the brand will remain focused on consolidating its exclusivity and prestige; therefore, the analysis of the sales trends is not fully meaningful.
The Group continues its growth on the domestic market. In the first half of 2010, the Group’s sales in Italy were 203.7 million Euros, up 1.6% from H1 2009. In the rest of Europe, sales totalled 80.3 million Euros, with growth of 3.4% from H1 2009.
The US market achieved excellent results, with a significant acceleration of its growth. In the first half of 2010, the Group’s sales totalled 25.5 million Euros, with growth of 11.2% from H1 2009.
Also the “Asia and Rest of World” area accelerated its growth; the Group posted extremely positive results in China, Hong Kong, Korea and Taiwan. In H1 2010, aggregate revenues for that area were 68 million Euros, with growth of 17.3% from H1 2009.