MILAN — Boosted by the performance of its footwear division and a good Christmas season, Tod’s SpA reported a 7.7 percent increase in 2008 sales to 707.5 million euros, or $1.04 billion at average exchange. This result was achieved despite sluggish leather goods sales and a slowdown in the U.S. market.
“The latest period of the year contributed in achieving the positive sales results released today,” said Diego Della Valle, chairman and chief executive officer of the group. “Thanks to the efficiency of our group’s structure, I believe that these results will be reflected in sound net income growth.”
The company said that, at constant exchange rates, sales would have risen 9 percent.
The Tod’s brand confirmed its status as the group’s cash cow last year, with revenues of 356.6 million euros, or $524.2 million, up 2.6 percent compared to the previous year.
Hogan posted a 19.6 percent increase, reaching sales of 238.7 million euros, or $350.8 million. Apparel brand Fay grew 3.7 percent to 93.3 million euros, or $137.1 million. The Roger Vivier brand registered revenues of 16.8 million euros, or $24.6 million, up 5 percent.
Footwear again proved to be the group’s leading category, with sales growing 13.7 percent to 485.6 million euros, or $713.8 million. The leather goods and accessories division posted a 9.1 percent decline in revenues, however, to 126.6 million euros, or $186.1 million. Apparel grew 5.9 percent to 94.5 million euros, or $138.9 million.
Geographically, the U.S. market was the only one that suffered, especially in the last few months of the year, “in line with expectations,” said the company. Sales in North America dropped 10.7 percent to 59.1 million euros, or $86.8 million. At constant exchange rates, sales would have declined 3.3 percent. Italy posted a 15.2 percent increase in sales to 384.1 million euros, or $564.6 million. The rest of Europe was in line with the previous year, inching up 0.1 percent to revenues of 161 million euros, or $236.6 million. Sales in Asia and the rest of the world grew 7.1 percent to 103.3 million euros, or $151.8 million.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
@longchamp, which marks its 70th anniversary this year, just opened its biggest U.S. store on Manhattan’s Fifth Avenue. On the lower level there’s a floor-to-ceiling display of the brand’s iconic Le Pliage bag – in all of its different colors, shapes and sizes. Customers can also have their product personalized in-store by imprinting names, initials or emblems. #wwdfashion (📷: @ericmtownsend)
“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
Luxury handbag resale company @rebagofficial is planning to sell a rare collectible for $70,000: the @hermes White Crocodile Himalayan Birkin. The exclusive Birkin sold for about $100,000 in 2008, when @davidbeckham bought one for his wife @victoriabeckham to add to her collection. Read more about the rare Birkin on WWD.com #wwdaccessories
With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)