(Alliance News) - Tod's Spa on Wednesday reported that in the first half of the year, total revenues amounted to EUR569.1 million, up 22 percent from EUR467.5 million in the same period last year.

All of the group's brands recorded solid double-digit revenue growth in the first half of the year.

By geographical area, Italy reported sales of EUR122.9 million from EUR109.5 million as of June 30, 2022. It did best of all in the area including China, Hong Kong, Macau and Taiwan, which reported sales of EUR194.4 million from EUR82.0 million in 2022.

The retail channel, which accounts for more than 75 percent of the group's sales, showed a further slight acceleration in growth compared with the first months of the year. The e-commerce channel also performed well, consolidating the results of the major investments made by the group in the digital world.

As of June 30, the group's distribution network consisted of 336 DOS and 93 franchised stores, compared to 318 DOS and 85 franchised stores as of June 30, 2022.

As for the wholesale channel, revenues grew in double digits.

Diego Della Valle, chairman and chief executive officer of the group, commented, "The sales figures published today confirm the excellent performance of our group: all brands recorded solid double-digit revenue growth in the first half of the year. Particularly brilliant were the results of Tod's and Roger Vivier, in all their product categories, confirming the increasing appreciation by customers for the very high quality of their products, their craftsmanship and their style."

"The Asian markets, in which our group is present with a widespread network of points of sale, made a great contribution to revenue growth in the period; we are equally satisfied with the results recorded in the domestic market and in the rest of Europe, driven by local demand, as well as purchases by tourists."

"We are reaping great approval from consumers looking for quality, elegance, sophistication and the Italian lifestyle. The group, as always, is attentive to issues related to sustainability and social solidarity with many initiatives. At this time, particular attention is devoted in trying to encourage young people to professionally choose trades representative of the best quality Italian craftsmanship."

"Considering the solidity of growth, the favorable revenue mix and the attention devoted to cost control and improving operating efficiency, we are confident about the profitability of the half-year and the prospects for the full year, despite the uncertainty and volatility of the macro-economic environment at the international level."

On Wednesday, Tod's closed 0.5 percent in the red at EUR41.40 per share.

By Claudia Cavaliere, Alliance News reporter

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