NEW YORK — Buoyed by robust sales in Europe and Asia, luxury goods firm Tod’s SpA delivered preliminary annual sales that showed a 13.3 percent gain.
Total sales for 2004 rose to 420.8 million euros, or $523.3 million. Dollar figures are at the average exchange rate. In euros at the constant exchange rate, the company said consolidated sales grew 15.1 percent to 427.6 million euros, or $531.7 million.
Diego Della Valle, chairman and chief executive officer, said in a statement that results reflect “an important acceleration of the organic growth as compared to the brilliant figures already registered in the previous months, confirming once again the full success gained among our customers by all our product categories.”
By product category, sales of leather goods and accessories jumped 21.1 percent to 84.7 million euros, or $105.3 million. Shoes and apparel sales showed gains of 12.7 percent and 6.2 percent, respectively.
Regarding sales by brand, Tod’s, which garners the largest share of total sales at 57 percent, showed a 15 percent increase for the year at constant exchange rates. The firm’s Hogan brand, which makes up 24.3 percent of total sales, finished with a gain of 18.9 percent, while Fay was up 5.9 percent.
By geographic market, sales in Italy swelled 12.7 percent last year. In Europe, excluding Italy, the results showed an increase of 11.5 percent. Asia and “the rest of the world” came in with a gain of 53.9 percent, while sales in North America declined 5.6 percent.
At constant exchange rates, the U.S. market experienced a 4 percent sales gain. “This market has been particularly affected by currency fluctuations, due to the strengthening of the euro against the U.S. dollar,” the company said in a statement.
This story first appeared in the February 1, 2005 issue of WWD. Subscribe Today.