During the first three quarters of 2020, the Tod’s group witnessed a significant decline in revenue, with a decrease of 33.2% compared to the same period in 2019. Despite this, there is some positive news, as the company saw a slight improvement in revenue during the third quarter. In Q3 alone, Tod’s generated €195.7 million, marking a 12.3% decrease compared to the previous year.

Diego Della Valle, the group’s president and CEO, highlighted the impressive performance of Tod’s in China during Q3, where they experienced solid double-digit growth. He remains optimistic about the company’s ability to recover once the pandemic subsides. Della Valle attributes this to the strength of their brands, the high quality of their products, the skills of their management teams, and their robust financial position.

The success of Tod’s in the third quarter was further affirmed in October, with their winter collections receiving positive feedback from local customers around the world. However, the absence of tourism and pandemic-related closures have negatively affected their store results in the Western world. On the other hand, Tod’s has witnessed significant growth in their e-commerce channel, with performance consistently increasing at a double-digit rate. Della Valle emphasized that e-commerce is a key priority for the company, and they continue to heavily invest in it.

Tod’s revealed that retail activity gradually returned to normal in Q3, and by the end of the quarter, almost all of their stores were open. As of September 30, 2020, 89% of their stores were operating regularly, with only 9% operating on reduced hours and 2% still closed. This is a significant improvement from the beginning of the quarter when only 78% of their stores were open, 16% operated with limited hours, and 6% remained closed. However, the situation remains uncertain as governments implement measures to combat the second wave of the pandemic.

Considering the unpredictability of the current crisis, Tod’s acknowledges the challenge of making accurate forecasts for the future. However, they are actively managing their activities and looking ahead to 2021. The company is focused on cost control, being cautious in collecting wholesale orders, and placing a strong emphasis on the digital world. They aim to remain flexible and proactive in order to adapt to the evolving international markets.

Tod’s is also prioritizing the health and well-being of their staff and clients. They are paying close attention to marketing communications, particularly in the digital space, as they seek to capture the attention of new consumers. Della Valle states that the company is hiring new personnel in this area and implementing a precise and coherent strategy. He is hopeful that these efforts will yield positive results within a short period of time.

Despite the challenges faced by Tod’s in the first three quarters of 2020, the company maintains an optimistic outlook for the future. With a strong focus on e-commerce, strategic planning, and adaptability, Tod’s aims to overcome the impact of the pandemic and emerge as a more resilient and robust brand.

Here are two useful links for further information on Tod’s:

1. Tod’s Official Website: Visit Tod’s official website for more information about their products and brand.
2. Tod’s on Reuters: Read the latest news and updates about Tod’s on Reuters’ dedicated company page.