Milan–Tod’s Spa reported last week that its first quarter sales grew has 8% to 263.2 million euros (about $335 million), helped by strong sales in Asia and the United States.
Although the Italian footwear and accessories company didn’t report net profits for the quarter ended March 31, the company said EBITDA rose 2.4% to 66.7 million euros. Operating profit climbed 2.4% to 57.3 million euros.
The company’s Tod’s brand continued to be the principle driver among the company’s brand, rising 13.4% to 137.5 million euros. Its Roger Vivier posted a 98% growth to $12.9 million.
By category, footwear revenues were up 8.3% to 195.9 million euros despite facing strong comparisons to first quarter 2011 when sales were up 16.2%.
Sales of this handbags and leathergoods were up 15.3% to 39.9 million euros driven by increase at Tod’s. Apparel sales dropped 3% to 27.2 million.
“Our Group is achieving strong results also in the current year. Asian and US markets continue to develop successfully, achieving excellent double- digit growth rates,” said Diego Della Valle, chairman. “As expected and anticipated, given current situation in our domestic market, we have been even more selective with our Italian distribution network, in order to preserve the positioning and exclusivity of our brands.”
Della Valle to Relaunch Schiaparelli Brand
Any softness in the European market was offset by a 21.2% gain in North America and a 48.7% increase in Asia/Other nations.
In other news last week, Della Valle announced that he would be relaunching the Elsa Schiaparelli brand, which is currently the subject of a retrospective along with Prada at the Costume Institute at the Metropolitan Museum of Art.
Della Valle bought Schiaparelli’s trademarks and archives in May 2006 and has been waiting for the right time to officially relaunch the brand.
According to the press release, “the new Schiaparelli universe will be made up of very special collections representing her style well, with a strong focus on accessories, for which Schiaparelli was the creator and protagonist.” The first Schiaparelli merchandise is expected to be available in early 2013.
No designer has been appointed but Della Valle named Farida Khelfa, a popular French socialite, as spokeswoman for the brand.