Tod’s CEO sees luxury sector improving in seven or eight months

Tod’s expects the current luxury industry slowdown to end in seven or eight months, the Italian shoemaker’s chairman and CEO said, adding this paved the way for a potential rebound.

Diego Della Valle said on the sidelines of the Tod’s fashion show in Milan on Friday that luxury goods groups had probably raised prices a little too much after the COVID-19 pandemic.

Tod’s founders, in agreement with private equity firm L Catterton, took the group private earlier this year.
Della Valle said the delisting has been beneficial, adding that the group has more freedom because it does not have to publish its results every quarter.

Luxury spending has slowed down in the last year, after the post-pandemic euphoria, hitting luxury groups’ results.

“In seven, eight months this crisis will turn positive and, as happened after the pandemic, maybe we can take advantage of it,” Della Valle said.