L’Catterton’s offer to delist the company led to Italian luxury group Tod's operating profit rising to €94.7 million ($103.3 million) in 2023 from €58.2million a year earlier.
The shoemaker's earnings before interest and taxes (EBIT) surged above the analysts' forecast of €88-million, according to a company-provided consensus.
Its sales rose by 11.9 per cent to €1.13 billion last year, boosted by China and despite slower growth in the last quarter, as per preliminary data released in January.
In the next few years, Tod aims to focus on consolidating its individual brands. L Catterton, the private equity group backed by France's LVMH offered to buy 36 per cent of the Italian luxury shoemaker last month and delist it, in agreement with the Della Valle family which created the company.
