MILAN — Tod’s saw double-digit revenue growth in the first half of the year on rising sales momentum of its Tod’s and Hogan brands, especially in its core European market.
Tod’s said preliminary sales for the six months ended June 30 rose 12.1 percent to 194.5 million euros, or $238.8 million, but would have grown 14.4 percent at constant exchange rates. Those figures indicate a much stronger second quarter for Tod’s since the company’s first-quarter sales rose only 1.7 percent. Final first-half numbers, including profits, are due in early September.
Dollar figures have been converted from the euro at the average exchange rates for the corresponding period.
Opening 14 stores helped boost first-half numbers but Tod’s stressed that a positive like-for-like growth trend also helped the company in the first six months of the year. The company said it averaged 10 percent sales growth per store for the 71 directly operated boutiques opened before Jan. 1, 2003.
“These sale figures allow us to fully confirm our growth potential in the medium and long term,” Tod’s chairman and ceo Diego Della Valle said in a statement, adding that he foresees “a meaningful increase of revenues for the year under way together with an improvement in profitability.”
Breaking down first-half sales by brand, Tod’s revenue rose 12.2 percent to 115.7 million euros, or $142.1 million, while that of Hogan grew 14.3 percent to 50.2 million euros, or $61.6 million. Sales at apparel brand Fay dropped 1.1 percent to 23.8 million euros, or $29.2 million, but the company cited difficult comps for the brand as Fay revenue jumped 51.3 percent in the first half of 2003.
Six-month sales in Italy rose 8.2 percent to 89.2 million euros, or $109.5 million, while those in the rest of Europe advanced 9.4 percent to 56.2 million euros, or $69 million.
A strong euro to dollar exchange rate bit into North American sales, which dropped 2.5 percent to 24.9 million euros, or $30.6 million. Tod’s said it would have risen 8.4 percent at constant exchange rates. Revenue from Asia and the rest of the world increased 71.9 percent to 24.2 million euros, or $29.7 million.— Amanda Kaiser
“Azzedine has been one of the biggest influences in my life. He has always been such a strong, loving, fatherly figure to me. I call him Papa. His designs are indescribably unique, they are pieces of art. He knew how to make the female form look its loveliest. I have so many memories of him; my favorite might be during my first show with him in Paris. He liked me and he wanted to help me get more work. He called all his friends at Kenzo and Comme des Garcons, and asked them to book me. They said, ‘But she can’t walk!’ And he said, ‘but she has such a great ass!' His friendship and support has been the great privilege of my career. I can't imagine life without him. Repose en paix mon Papa.” - @stephanieseymour tells @wwd. #wwdfashion (📷: @steveeichner) #alaia #azzedinealaia
Azzedine Alaïa, flanked by two of his closest friends, models Stephanie Seymour and Naomi Campbell.
He designed Seymour’s dress for her 1995 wedding to Peter Brant, and treated Campbell (who famously called him Papa), like a daughter. For more on the legendary designer, tap the link in bio. #wwdfashion #alaia #azzedinealaia
Azzedine Alaïa's “I-did-it-my-way” ethos stood out starkly at a time when brands are experimenting with consumer-facing fashion shows, coed formats and trans-seasonal collections – anything to perk up lackluster sales of ready-to-wear in an age of Insta-everything. “It’s not creation anymore. This becomes a purely industrial approach,” the late designer told WWD in an interview last year. “But anyway, the rhythm of collections is so stupid. It’s unsustainable. There are too many collections.” Read more about the iconic designer’s life and work on wwd.com, link in bio. #wwdfashion #azzedinealaia (📷: @WWD Archive, 1986) #alaia
Sneaker reselling app @goat’s latest exhibit, "The Greatest: New York," tells the story of New York's sneaker culture. To celebrate the exhibit, an intimate crowd gathered on Thursday night at the pop-up gallery space, located at Platform in Culver City, to hear guest speaker and illustrator @esymai talk about her own rise in streetwear and women in the business. "For me I'm just someone who is creative. I like to create things," said Chang. #wwdfashion
Azzedine Alaïa, one of the most iconic couturiers of the modern era whose body-con designs defined Eighties fashion, has died in Paris. The diminutive Tunisian-born designer, known for his structured knitted dresses with fitted waists and impeccably cut, figure-hugging second skin silhouettes was deeply admired by his peers, and counted supermodel Naomi Campbell - his adoptive daughter - among his inner circle, one of a gang of glamazons including Farida Khelfa, Carla Bruni and Stephanie Seymour who became ambassadors of his style. (📷: Alexandre Guirkinger) #wwdblast