Tod’s Group has announced the appointment of John Galantic as its new CEO, marking a significant leadership shift for the Italian luxury fashion house. This news was made public in a statement released on Thursday.
Before joining Tod’s, Galantic served as President and COO of Chanel. Diego Della Valle, the founder of Tod’s Group, will continue in his role as chairman, ensuring that the company’s vision remains aligned with its storied heritage.
In June, Tod’s took a significant step by delisting from the stock market after entering a privatization agreement with L Catterton, a private equity firm. This decision follows challenges the company has faced, including a decline in shoe sales and a sluggish market in China. In the first quarter, Tod’s reported sales of €252.3 million (approximately $282 million), marking a decline of about 6.5% from €270.5 million ($302 million) during the same period last year.
The move to go private aims to rejuvenate demand for the brand without the pressures of public market scrutiny. According to the statement, Galantic’s emphasis on brand building will be crucial for enhancing Tod’s growth potential globally. In addition to its flagship brand, Tod’s Group also owns other prestigious labels, including Roger Vivier, Fay, and Hogan. Additionally, Diego Della Valle’s family office holds ownership of Schiaparelli.
