Profit figures have yet to be announced. Meanwhile, the Tod’s group says it raised its consolidated sales by 8.1 percent on a constant-currency basis last year, but in euros they grew by only 3.7 percent to €371.4 million. The Tod’s brand, which is the most international one, representing 57.6 percent of the group’s total turnover, grew by 0.3 percent in euros and by 7 percent in local currencies. Hogan suffered a momentary drop of 4.3 percent and Fay went up by 24.5 percent.
By product categories, sales of footwear were basically flat, in line with the group’s strategy to widen the product range. Their share in the total turnover declined from 69 to 64.1 percent last year, and according to company officials it could become similar to those of its higher-margin leathergoods later in the future. In terms of euros, sales of leathergoods and apparel grew last year by 18.6 and 21.0 percent, respectively, whereas those of footwear declined by 3.7 percent.
In geographical terms, the group did relatively well in its main market, Italy, where its sales were up by 7.2 percent and took up 48.9 percent of total revenues. Still in euros, sales in other European countries declined by 2.3 percent and those in North America fell by 10.2 percent, while sales in Asia and the rest of the world jumped by 41.2 percent. A certain recovery was noted in the US market, where the group scored 7.3 percent better in dollar terms.
The sales revenues of the group’s rapidly growing network of corporate stores increased by 2.2 percent on a same-store basis last year. They increased in absolute terms by 25.3 percent, contributing to the overall growth in revenues and representing about 48 percent of the total turnover for the year. After the opening of 24 new corporate stores around the world in the course of last year, including the first Hogan boutique in London and a new Tod’s store in Japan in the 4th quarter, the group has a total of 95 directly owned stores. The number of franchises declined from 37 to 39, with many of them converted into corporate stores. New Tod’s franchises started up in the latest quarter in Seoul and Manila.