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Published
Sep 25, 2014
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Tod's considers spinning off Hogan

Published
Sep 25, 2014

Tod's may spin off Hogan on the stock market. The potential move, involving Tod’s newest and most sporty brand, was announced during the group’s investor day, held on Monday, September 22 in Milan. Management confirmed the idea without giving detailed figures.

Hogan’s recent fashion show in Milan (Photo Pixel Formula)


The Italian luxury group evoked its own growth in terms of retail, international sales and leatherwear, while confirming 15 store openings per year primarily for Tod's, Hogan and Roger Vivier.

The group is also continuing along with plans to transform the footwear label Tod’s into a lifestyle brand with the hiring of Alessandra Facchinetti as creative director for ready-to-wear collections and Andrea Incontri for menswear. 

The group’s management is also confident about Hogan’s potential abroad and in terms of e-commerce. And so, the group’s chairman, Diego Della Valle, has not ruled out a spinoff of the brand "in the distant future", probably within the next 2-3 years in order to achieve “a better valuation." 

The luxury sneakers brand represents Tod’s second largest business, but it is still very focused on the domestic market and has recently seen sales declines. 

During the first half of 2014, Hogan recorded a turnover of 104.5 million euros (out of a total of 477.7 million), down 6.1% (at current exchange rates) compared with the same period a year earlier. 

As with Tod's, Della Valle has been working to expand Hogan’s product range to include accessories and shoes for a true overall look. With that in mind, the brand presented its first capsule clothing collection in February. It was overseen by the young British designer Simon Holloway, who returned with another for Milan’s Fashion Week with a "presentation-show.” 

Analysts who attended investor day nevertheless expressed doubts about the group's ability to transform Hogan into a global brand. 

Tod's has also seemed interested in acquiring the French shoe brand Roger Vivier, which it currently produces and distributes under a license agreement that expires in 2016, but no details have been provided on any potential transaction.

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