Tod's closes 2023 with +12% sales thanks to China

The luxury group's results were boosted by a 24% increase in sales in Greater China, while revenues in Europe -- excluding Italy -- grew 10.5%.

ROME (Reuters) - Tod's ended 2023 with sales up 11.9 percent to 1.13 billion euros, narrowly beating analysts' expectations of 1.12 billion, according to the consensus provided by the company.

In Italy, sales increased last year by 4.9 percent at constant exchange rates to 264 million.

At the brand level Tod's marks a growth of 10.4 percent and Roger Vivier 16.5 percent.

"Considering the good quality of the data, we are very positive about the income results we will be able to achieve, as well as the excellent capacity for future growth of our Group," founder and CEO, Diego Della Valle, commented in the note.

In the fourth quarter alone, sales rose 7.5 percent at constant exchange rates.

(Francesca Piscioneri, editing Claudia Cristoferi)