MILAN — Hurt by the rationalization of its wholesale accounts in Italy, offset by double-digit growth in Greater China and the Americas and a strong performance of the Roger Vivier brand, revenues at Tod’s SpA edged up 0.5 percent to 967.5 million euros, or $1.27 billion, in the year ended Dec. 31, compared with 2012. The Italian luxury firm was hurt by currency headwinds, as sales would have grown 1.7 percent in the year at constant exchange.
“As expected, full-year sales results confirmed the same trends of the previous quarters: very strong results abroad, mainly achieved by the Tod’s and Roger Vivier brands, partially offset by the impact of the rationalization strategy implemented on the Italian wholesale distribution,” said chairman and chief executive officer Diego Della Valle, whose group controls the Tod’s, Hogan, Fay and Roger Vivier labels. “Even though the economic situation is still challenging, we continue to develop our brands by increasing the investments to strengthen the distribution network, the human resources and the production capacity, such as the new factory for high-quality accessories that we are currently building in Italy. ”
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