Tod’s Loafers Have Won Over Royals and Hollywood—But Not Many Millennials
The Tod’s brand gets less than 15% of revenue from shoppers in their 20s and 30s, compared with 50% for Gucci and 65% for Saint Laurent
CASETTE D’ETE, Italy—Tod’s SpA built a billion-dollar business on the back of chic leather loafers worn by royals and Hollywood stars. Catching the eye of a younger generation of consumers hasn’t been so easy.
Diego Della Valle, Tod’s chairman and majority shareholder, has in effect written off millennials and is largely sticking to a playbook honed in the 1980s: Use expensive, high-quality leather and mostly classic designs and colors to craft $500 shoes, with all work done in Italy.
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