“If I sell, I sell to LVMH”. And, in the meantime, I build the conditions for my step back. Diego Della Valle has announced his intention to step back from the day-to-day management of the Tod’s group. When? In one year. The entrepreneur from Marche declared this on May 19, 2020, during his speech (in the photo) at the Business of Luxury Summit organised by the Financial Times. In other words, he has made it clear that in a year’s time he would like to hand over control of the group to other family members. And, potentially, also to his historic French friend: Bernard Arnault.
If I sell, I only sell to LVMH
Diego Della Valle stated that he is willing to sell a further additional stake in his group to LVMH. “One piece more” of the capital, therefore, after the French, recently, have risen to 10% by investing over 74 million euros. “The sale of the shares was a sign to show that we like to work together – said DDV -. If we have the opportunity to do something in the future, we will try to do it. If possible, we are ready”. And, beware: Della Valle has ruled out any alternative choice. In other words: if he sells, he is “100% sure” he will only sell to LVMH.
Leaving in a year
Regarding his step back on the operational management of the Tod’s Group, Della Valle has planned it in a year. “Nobody believes me, but I need a year to prepare the team and I’m ready to free up my time by 60-70%. I have a family and a grandson. We love what we do” and, for this very reason, “if one day I decide to sell…I believe in people like Bernard”, he added.
Della Valle was also a guest last night at Dimartedì, a format broadcasted on La7. “We need to make far-sighted operations,” he said referring to the business world. Reiterating, then, how Mario Draghi is the right person to lead Italy right now. “We couldn’t have had anything better. He is helping us. We need and are helped by his reputation. Politics should not hinder him, but let him work”.