MILAN — Tod’s Group on Wednesday reported a double-digit increase infirst-half net income on the back of strong sales at the namesake brand,increased demand for its shoes and bags in America and China, and an“improvement” in the group’s tax rate.
Tod’s — home also toHogan, Fay and Roger Vivier — said net income in the first six monthsincreased 13.7 percent to 74.4 million euros, or $96.5 million, as salesincreased 9.8 percent to 482.5 million euros, or $626.1 million. Thecompany said its tax rate decreased by 300 basis points compared withJanuary to June 2011 “mainly due to the higher incidence of foreignsales on the group’s turnover.”
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"