Tod’s Group (Tod’s, Hogan, Roger Vivier, Fay) reports a 2,7% decline in sales to 477.7 million Euros in the first half of 2014 compared to the same period in 2013. Roger Vivier was the only brand of the group which registered positive sales in the first half of 2014, with a 1,4% increase.
In the first half of 2014 the Group’s EBITDA was 103 million Euros, with a 21.6% margin on sales. The decrease of the EBITDA reflects the strategic decision to continue the investments in the distribution network, in communication and in human resources.
Europe brought positive results for the group in the first 6 months of 2014, with sales of 108 million euros (+7% at constant exchange rates) while sales in Greater China were sluggish. The performance of Greater China confirmed the weakness of the last few months, which is considered to be related to the general and deep contraction of luxury goods consumption, due to the significant drop of clients in the malls. However, the performance of the most recent weeks, with the introduction of the Fall Winter collection, is much more encouraging. Sales in Greater China were 117.8 million Euros, down 3.6% from the first half of 2013, at constant exchange rates.
Tod’s Group invested 33 million euros in new stores and production sites, an increase of 50% compared to the first half of 2013, an amount equal to 7% of revenues interim reports.
As of June 30th, 2014 the Tod’s Group distribution network was composed of 229 directly operated stores and 87 franchised stores, compared to 200 directly operated stores and 79 franchised stores as of the end of June 2013.
Roger Vivier Boutique in Qingdao, China
More from NEWS
DIOR opens new enlarged store in Dallas at Highland Park Village
DIOR has relocated its Dallas Highland Park boutique to a new 15,000-square-foot location. The sprawling two-level store will house all Dior universes, …
LVMH sells Thomas Pink to CP Brands Group
New York based firms CP Brands Group and Icon Luxury Group have announced the acquisition of British clothing brand Thomas …
CELINE opens new flagship store in Seoul at Cheongdam
Seven years after first opening a flagship store in the upscale Cheongdam shopping area of Seoul, French fashion house CELINE has relocated to a more …
