The brand generated total revenue of $464.7 million by the end of June, with the Americas and Europe driving sales. Meanwhile, sales in Greater China fell by 19% as strict lockdowns in the country impacted consumer demand.
The company’s operating profit reached $17.6 million, a significant improvement over the $2.6 million loss recorded a year ago.
“Revenues returned to values higher than those of 2019,” said founder Diego Della Valle, who is also the main shareholder in the company.
Looking ahead, the company plans to focus on distribution network efficiency and digital to increase like-for-like and higher-margin turnover.
The results come on the heels of Tod’s founding family’s decision to take the brand private in an effort to turn around its business and shield its business decisions from the market response.
The company had initially launched a turnaround plan in 2017, but it struggled to see it through due to disruptions caused by the pandemic. However, last year, the company was finally able to revive its sales after a five-year consecutive decline in sales, Reuters reported.
Photo credit: Tod’s
