Luxury Tods Group Performance Fell Slightly

According to the 2015 earnings report released by Italy luxury group Tods, the group's net profit fell from 97 million 100 thousand euros last year to 92 million 700 thousand euros, due to higher operating and financial costs.

With regard to the expansion of the retail network this year, the group will consider reducing the number of shops and closing some stores, especially the particularly negative Hongkong region.

Emilio Macellari, chief financial officer, revealed that

The group is taking a more prudent approach to expand its retail network and plans to open 15 to 20 new stores this year.

But the group is considering closing some of them.

It may lead to less total stores.

In contrast, the group opened 25 new stores in 2015.

Affected group

With the global growth of wholesale channels and the accelerated growth in the fourth quarter, Tods group's total revenue rose by 7.4% to 1 billion 40 million euros.

Sales rose by 1.8% under the fixed exchange rate.

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Although many luxury brands are very optimistic about the economic situation in the current financial year, many brands of CEO also believe that the brand will continue to grow.

But a recent report from foreign media predicts that the slump in the luxury sector will continue to slump in the current 2016 fiscal year.

In addition, the report also pointed out that American consumers began to treat luxury consumption with wait-and-see status, and even many consumers waited for the discount season before they began to buy. In the past, the characteristics of "buy and sell" were catalyzed by the reasons of economic slowdown and strong dollar, and turned to a calm and cautious attitude.

To a certain extent, this reflects the prudence of consumers, and it also proves that the main reason for the negative growth of the luxury goods industry in the current fiscal year 2016 is recorded.

It is reported that in the 2015 fiscal year, the global luxury industry recorded an increase of 1.5% to 250 million euros, but as a result of the low growth of luxury goods, the US and China market will forecast a decrease of about 1%.

The foreign media who conducted the survey said that the 2016 fiscal year will be a year of low growth in the luxury goods industry.

In the past few weeks, many luxury brands and chain corporation have released the report of the current quarter. Although a few brands have recorded growth, negative growth is the current norm for the luxury goods industry.