Tod's is moving the Tokyo flagship store of the homonymous brand from Omotesando to another area of the city with greater traffic. A similar move was made in Milan, where the brand transferred its store from Via della Spiga to Via Montenapoleone. The brand decided to take advantage of high real-estate prices in Tokyo to sell the Omotesando property, which also hosts the group's regional offices, for €156 million. A third of the price was paid with the preliminary agreement and the remaining two-thirds will be settled at closing. Tod's expects to book a gross capital gain of about €100 million. Tod's will continue to use the premises until the new offices and stores are available or until Oct. 31 at the latest.

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