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Tod's Group wishes to convey the charms of the Italian lifestyle to the world's rich. To do this, it focuses on celebrity and glamour, and its new advertising campaign will feature Italian celebrities. The Chairman says he wants to expand into India and China to capture consumers there who appreciate the Italian lifestyle. To enter such big markets,

Tod's will need to think about quantity as well as quality.

Tod's is primarily a fashion company and needs to be much bigger. China and India have more possibility for growth than Tod's traditional markets. The Chairman is worried because China will be able to produce luxury goods more cheaply. In future, Tod's will look to lower production costs by manufacturing in low-cost countries.

Diego Della Valle: Italian atmosphere is central to Tod's global expansion by Vincent Boland It is not too difficult, in the high- who aspire to the same sense of the ceilinged elegance of Palazzo Della Italian lifestyle as do customers in Valle on the Corso Venezia in Milan, more mature markets. 'A luxury- to be seduced by the charms of a 40 goods company has to have control of certain kind of Italian lifestyle. Here its image,' he says. 'For Tod's, the is the headquarters of Tod's Group, thing is to communicate this tradition, which has become a powerhouse in the generations of work that have the marketing of that vision to the gone into our products. For us, it's an world's wealthy and discerning. 45 absolute priority.' 10 The atmosphere is deliberate: where To achieve it, one must put quality some Italian fashion houses have before quantity, and one must main- expanded ever further into the realms tain the group's traditions even as it of celebrity and glamour, Tod's is globalises, which it has been doing anchored as firmly as it can be to 50 fairly relentlessly in the past decade. 15 its family roots and its traditional. The challenge is to marry tradition hand-made, century-old heritage. with modernity in a way that not all He expects China and India to Its signature products - shoes and Italian luxury-goods and fashion account for as much as 25 per cent of bags - are made of leather, a raw producers have managed. Tod's has 75 revenues by then, because the growth material that has remained almost 55 done it, Mr Della Valle says, by potential is much higher than in more 20 unchanged since it was first discov- maintaining one key vision: "We're a traditional markets. 'There is a much ered. A new advertising campaign luxury-goods company, not a fashion bigger appetite for luxury goods will take the company back to basics, company. in those markets than in mature with a focus on Italian families and This distinction between fashion so markets, and day by day more people their lifestyles - actual Italian fami- 60 and luxury is central to Mr Della are coming into this market. 25 lies, however rich and privileged Valle's global ambitions. The two But as for China as a competing - rather than on celebrities. have different products and ought to producer, Mr Della Valle is sceptical "The Italian lifestyle is in our have different strategies, he says. The about its ability to produce luxury DNA, and in our group, we believe in competitors he admires most. goods. 'It lacks the structure of small our DNA.' says Diego Della Valle, 65 he says, are Louis Vuitton, Hermes companies, the tradition, the concept 30 the Chairman and Chief Executive and Chanel. of excellence' that Italian luxury- of Tod's Group. Mr Della Valle says that the goal in goods producers have inherited and This image is especially important the next five years is 'to complete the which they must maintain as a com- in new markets, such as China and globalisation' of Tod's, for which he has 90 petitive advantage, he says. "Made India, he says. In common with other 70 been laying the groundwork. 'I'd like in Italy" doesn't necessarily mean 35 luxury-goods makers, he is intent on Tod's to be much bigger than it is now, expensive goods,' he says. 'It means capturing consumers in those markets without diluting the brand,' he says. excellent goods