Italian luxury leather goods company Tod's reported
a profit for 2008 and a positive start to 2009. Tod's SpA CEO Diego Della Valle said that the company made an 8% gain in revenues and earnings in 2008. In addition to Tod's, the company also owns Hogan, Fay and Roger Vivier.
"The first signals of the current year may be considered positive," Della Valle stated, attributing the group's success to high product quality rather than following fashion trends.
He added that although the uncertain economic environment limited visibility, Tod's aimed "to preserve and consolidate its market share and its profitability" by focusing on costs, improving operating efficiency and giving "great attention" to product innovation.
For the 12 months through Dec. 31, the Italian shoe and leather goods firm, which owns the Tod's, Hogan, Fay and Roger Vivier brands, reported net profits of 83.4 million euros, or $122.7 million, on consolidated sales of 716.4 million euros, or $1.05 billion, which were in line with expectations.
How nice to hear about a company these days that's actually posting a profit instead of filing bankruptcy. We do love Tod's shoes and handbags.
