243
Fashion Jobs
L'OREAL GROUP
Head of Advocacy & Influence - l’Oréal Dermatological Beauty - Copenhagen
Permanent · COPENHAGEN
ESTÉE LAUDER COMPANIES
District Manager (Funen/Jutland)
Permanent · AARHUS
ESTÉE LAUDER COMPANIES
Handelselev Med Speciale i Digital Handel - E-Commerce
Permanent · COPENHAGEN
ZIZZI
Online Buyer Til Fashion
Permanent · BILLUND
SAMSOE
Logistik Koordinator
Permanent · GLOSTRUP
ONLY
Business Controller
Permanent · BRANDE
ONLY
International Sales Manager
Permanent · BRANDE
JACK & JONES
Konstruktører, Jack & Jones og Jjxx
Permanent · BRANDE
BEST SELLER
Environmental Programme Coordinator
Permanent · KØBENHAVN K
BEST SELLER
Product Owner - Data-Driven Solutions & ai
Permanent · AARHUS
SELECTED FEMME/HOMME
Sales Representative
Permanent · BRANDE
L'OREAL GROUP
Key Account Relationship Specialist
Permanent · COPENHAGEN
SAMSOE
Business Controller (Sql And Data Analytics Specialist)
Permanent · COPENHAGEN
ACE & TATE
Optometrist Copenhagen i NY Østergade
Permanent · COPENHAGEN
VERO MODA
Business Controller
Permanent · AARHUS
VERO MODA
Buyer | Curve
Permanent · AARHUS
ONLY
Demand Planner
Permanent · BRANDE
L'OREAL GROUP
Supply Chain Graduate - l’Oréal Luxe Product Division - Copenhagen
Permanent · COPENHAGEN
KERING EYEWEAR
Kering Eyewear - Lindberg Junior Trade Marketing Manager
Permanent · AARHUS
ESPRIT
Area Manager Multilabel Nordic Women
Permanent · COPENHAGEN
ZIZZI
IT Operations Manager
Permanent · BILLUND
TJX EUROPE
Buying Coordinator
Permanent · COPENHAGEN
By
Reuters API
Published
Aug 8, 2019
Reading time
2 minutes
Download
Download the article
Print
Text size

Tod's family owner to keep investing despite sliding sales

By
Reuters API
Published
Aug 8, 2019

Italian shoemaker Tod's said on Wednesday it would push on with investments in promoting its brands and that falling sales had not tempted the controlling family to take the luxury firm private.


Tod's - Fall-Winter2019 - Womenswear - Milan - © PixelFormula



The group, best known for its 450 euro (£415) per pair Gommino loafers, has been struggling for several years to rejuvenate its brands in a crowded marketplace and boost sluggish sales.

Group sales fell to 454.6 million euros in the first half of the year, 4.7% below the same period in 2018. The rate of growth in sales from its directly-owned stores (same store sales growth) fell 4.5%.

Positive news came from its retail channel, where sales rose 6.5%, driven by its online platform.

Chief Financial Officer Emilio Macellari told analysts on a conference call the company expected full-year results to be similar to those achieved in the first half.
In May, Macellari had told analysts that meeting the market's expectations for 2019 results could be challenging.

Chairman and Chief Executive Officer Diego Della Valle's family has been gradually building its holding to 64% of the company, whose stable of brands also includes Hogan, Fay and Roger Vivier.

Della Valle, a well-known businessman in Italy, said in a statement he and his family were confident in their strategy for Tod's and would continue to buy company shares.

"The real challenge for us now is to become even more attractive for the young customers who live in the new markets ... we need to increase our investments to be more attractive and visible," Della Valle said.

Macellari said that as far as he knew, the family had not considered the possibility of taking the company private.

Asked by analysts about whether the major shareholders believed in the company's future, Chief Executive Officer Umberto Macchi di Cellere said: "The family is very convinced that this is definitely not a lost battle at all."

Tod's reported a net loss of 6 million euros for the period.

© Thomson Reuters 2024 All rights reserved.