Tod’s has announced significant growth in operating profit for 2023, exceeding analysts’ expectations. Sales of the Italian fashion group specializing in luxury loafers and ankle boots also rose. This announcement comes at a time when Tod’s is concentrating on consolidating its brands and a recently announced strategic partnership with L Catterton.
Italian luxury group Tod’s revealed on Tuesday March 12 that its operating profit had risen sharply to €94.7 million in 2023, compared with €58.2 million in 2022. These preliminary results were announced ahead of L Catterton’s offer to delist the company.
This performance also exceeded analysts’ expectations, who were expecting earnings before interest and taxes (EBIT) of 88 million euros, according to a consensus provided by the company.
Tod’s sales also showed notable growth, rising by 11.9% to 1.13 billion euros in the previous financial year.
This increase was driven in particular by the Chinese market, despite more moderate growth in the last quarter.
Consolidation strategy with L Catterton
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Featured photo : © Tod’s
