Tod’s turns to ‘Factory’ project to keep pace with fast-moving fashion market
Tod’s will use multiple collections throughout the year to engage better with customers, chairman Diego Della Valle said on Friday, as more fashion brands adapt their strategies to the fast-moving market.
Della Valle explained that Tod’s project — dubbed “Factory” in a nod to the New York art studio opened by Andy Warhol in the 1960s — began seven months ago and entails more collections during the year, as well as one-off limited edition collections created by different designers.
“The business model has changed, everything is more rapid, though in some sort of way more controllable,” he said, speaking on the margins of Tod’s 2018/19 fall-winter show in Milan.
Tod’s said it would focus on its more classic lines of clothes and accessories
Tod’s reported a 3.1 percent fall in revenue for 2017 while many luxury goods rivals such as France’s LVMH enjoyed a sales bounce thanks to a recovery in Chinese demand.
The Italian group, known for its Gommino loafers, said it would focus on its more classic lines of clothes and accessories in a strategy that could weigh on growth in the short term. Part of the overhaul has involved a rejig of management — defined by Della Valle as a “consensual change” — with the replacement of long-serving CEO Stefano Sincini with Bulgari sales executive Umberto Macchi di Cellere.
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