MILAN — Despite headwinds caused by the political turmoil in Hong Kong and sliding sales last year, chairman and chief executive officer Diego Della Valle touted an improvement in the last quarter of the year and his confidence in the path he has been charting for the Tod’s Group.
Preliminary 2019 revenues released on Thursday at the end of trading in Milan, where Tod’s SpA is publicly listed, showed a 2.6 percent decrease to 916.1 million euros, compared with 940.5 million euros the year before.
Sales in the fourth quarter grew 1.7 percent to 238.4 million euros, compared with the same period in 2018.
“The results of the last quarter showed an improvement in the revenue trend, despite the negative effects regarding the Hong Kong market,” Della Valle said. “We are starting to register the first positive signs of the strategy adopted at the time. We consider an absolute priority to protect the great quality of our products, the refined Italian lifestyle and, increasingly, the creative component, that attracts new consumers, who love to surround themselves with special things. The competition in the luxury sector is getting stronger, and therefore, we must be able at having always special and desirable products.”
Della Valle underscored how
Preliminary 2019 revenues released on Thursday at the end of trading in Milan, where Tod’s SpA is publicly listed, showed a 2.6 percent decrease to 916.1 million euros, compared with 940.5 million euros the year before.
Sales in the fourth quarter grew 1.7 percent to 238.4 million euros, compared with the same period in 2018.
“The results of the last quarter showed an improvement in the revenue trend, despite the negative effects regarding the Hong Kong market,” Della Valle said. “We are starting to register the first positive signs of the strategy adopted at the time. We consider an absolute priority to protect the great quality of our products, the refined Italian lifestyle and, increasingly, the creative component, that attracts new consumers, who love to surround themselves with special things. The competition in the luxury sector is getting stronger, and therefore, we must be able at having always special and desirable products.”
Della Valle underscored how
Follow WWD on Twitter or become a fan on Facebook.