The Italian brand posted a rise in 2008 profits in this economy.
Looks like H&M and Mango aren’t the only fashion brands doing well, Tod’s just posted a 7.7% rise in revenue in 2008 to a total of nearly US$1 billion.
Italian fashion and luxury company Tod’s SpA (TOD.MI) expects to increase its sales and profits in 2009 despite the uncertain outlook, Chairman and Chief Executive Diego Della Valle said on Friday.
In 2008 Tod’s sales rose 7.7 percent to 707.5 million euros ($909 million) on a reported currency basis, the company said in a statement on its preliminary data. On a constant currency basis sales were up 9 percent at 716.4 million.
“The last part of the year has contributed to the good results that we present today,” Della Valle said in the statement.
Looking ahead to 2009, Tod’s is seeing good signs in sales both in directly owned stores as well as in the wholesale sales channel, Della Valle said.
“Even considering the high level of uncertainty that limits visibility on results, I believe … that our group can register a growth in sales and profit this year as well,” he said.
Interesting that the LAST part of 2008 was the big contributor to Tod’s sales, Santa was good to Tod’s. Good luck to Tod’s in 2009 as you’re keeping our favorite actress Gwenyth Paltrow employed until Iron Man 2.