(Alliance News) - In the first three months of 2024, Tod's group consolidated revenues amounted to EUR252.3 million, down 6.7 percent from EUR270.5 million in the first quarter of 2023. This was announced by Tod's Spa on Wednesday in a note.

The performance of the individual brands, the company points out, is very uneven: Tod's and Roger Vivier were visibly affected by the weakness of the Chinese market. However, all brands performed well in the European and American markets.

Diego Della Valle, chairman and chief executive officer, stressed that, "with the success of the takeover bid, Tod's group is exiting the stock market. We decided to make this choice in order to focus on the potential development of our individual brands, making all the necessary investments in the timeframe we deem most appropriate."

"We have a great opportunity for growth and we will try to seize it," the CEO continued, "operating with a long-term vision. We have also decided to share this strategic decision of ours with two global partners, who have great experience in our sector: L Catterton and LVMH, with whom we shared our entry into the stock market more than 20 years ago, who will certainly be valuable fellow travelers."

Tod's closed Wednesday at a par EUR42.92 per share.

By Chiara Bruschi, Alliance News reporter

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