TOD’s reports outstanding financial results for first half of 2011
Italian luxury leatherwear group TOD’S reported last week a 26,7% increase in its turnover for the first six months of 2011 (ending 30 June) reaching 64,5 million euro, compare to the same period last year. From the group’s brands, which also include Hogan, Fay and Riger Vivier, Tod’s registered the best performance, with a 22,3% increase in sales. The Tod’s brand accounts for 55% of the entire group sales.
The company confirmed an agrressive expansion plan, with 15 new directly operated stores to open by the end of 2011, of which 90% in Asia, which is also the region with the best performance for the company. For the rest of 2011, the company confirmed it is in line to meet expectations of 12,3% growth.