×
150
Fashion Jobs
COMET GRANITO PRIVATE LIMITED
Vacancy For Area Sales Manager
Permanent · Vadodara
DRYCHEM SOLUTIONS PRIVATE LIMITED
Opening For Area Sales Manager - Walplast Products Pvt Ltd - Mumbai
Permanent · Mumbai
LEAD HR SERVICES PVT. LTD.
Manager Production Control And Logistics For Automotive in Chennai
Permanent · Chennai
EXPLODE SERVICES
Production Manager Home Furnishing For Noida Location
Permanent · Noida
RENOVATE BIOLOGICALS PVT LTD
Area Sales Manager
Permanent · Ahmedabad
BVR PEOPLE CONSULTING
Production Manager/Chennai
Permanent · Chennai
LABCURE DIAGNOSTIC PRIVATE LIMITED
Area Sales Manager
Permanent · Dehradun
BIG SOFT HR SOLUTIONS
Technical Manager (Maintenance & Production) @ Corporate Office
Permanent · Mumbai
ESTÉE LAUDER
Clinique - Consultant - Nykaa Trillium Mall, Amritsar - 40 Hours - Full Time, Permanent
Permanent · Amritsar
L'OREAL GROUP
Executive - Sales
Permanent · Rajkot
LEVI'S
Senior Specialist HR
Permanent · Bengaluru
ALEMBIC PHARMA
Area Development Manager
Permanent · Pune
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager
Permanent · Aurangabad
KISHOR EXPORTS
Qam - Quality Assurance Manager For Garment Exports Company
Permanent · Ranchi
HERO HOUSING FINANCE LIMITED
Area Sales Manager
Permanent · Nagpur
KISHOR EXPORTS
Production Manager
Permanent · Ranchi
SNEHA SYNERGY SOLUTIONS PVT LTD
Production Manager in Manufacture Company at Sangareddy
Permanent · Sangareddy
CORPORATE RESOURCES
Manager – HR & Admin (Garments)
Permanent · Salem
ELECTRONICA FINANCE LTD
Area Sales Manager - Coimbatore Machinery Loan
Permanent · Coimbatore
CORPORATE RESOURCES
Area Sales Manager (Fmcg)
Permanent · Coimbatore
ZTT INDIA PRIVATE LIMITED
Production Manager
Permanent · Lady Lake
ACADECRAFT PVT. LTD.
Video Production Manager
Permanent · Noida
By
Reuters API
Published
Aug 8, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

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 2021 All rights reserved.