Tod’s Operating Profit More Than Triples in First-Half

Italian luxury group Tod’s said on Wednesday its first-half operating profit more than tripled compared to the same period of last year and reached €60 million ($64.29 million).

“The solidity of the group’s results, the good quality of the management team and the excellent feedback received from the next collections make me confident about our future results, in terms of growth in sales and profitability,” chief executive Diego Della Valle said in a statement.

Sales at Tod’s grew 23 percent in the first six months of the year, driven by a strong performance in its main market Greater China, as showed by preliminary data published in July.

By Elisa Anzolin; Editor: Federico Maccioni

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Tod’s Creative Director Walter Chiapponi to Step Down

Italian luxury fashion group Tod’s said on Wednesday that creative director Walter Chiapponi was leaving the company “by mutual agreement” after four years.