Diego Della Valle spreads clues and taunts the market. “This operation with LVMH was symbolic. The idea is: let’s see if we can do something together, if that’s the case than by all means”, said the president of the Tod’s Group during the Fashion and Sustainability event organized by RCS Academy and Corriere della Sera. The entrepreneur also commented the arrival of Chiara Ferragni on the Board: “Nothing commercial”.
Della Valle spreads clues
“There is a long friendship with LVMH. This was just a way to re-confirm that we want to do something together. It’s been 21 years since I first gave a few shares to Bernard (Arnault) before our IPO. Today’s operation was a symbolic one. The idea is: let’s see if we can do something together, if that’s the case than by all means”. Della Valle chooses to comment the operation that brought LVMH to invest over 74 million euro in Tod’s with the mentioned words.
The French group now owns 10% of the Group’s shares. The move had, of course, once again lit a fire under the rumors that Tod’s was a “designated prey” of the French giant. Della Valle has always quashed any such rumors regarding the sale. Now though, he spreads clues regarding the near future. What does he want to do then, with his friend Mr. Arnault?”.
Mr. Della Valle also commented the entrance of Chiara Ferragni in Tod’s BoD. “We have always had a type of communication that focused on clients above 30 years of age. Chiara’s entrance has nothing to do with the commercial side.We needed it to bring her in for new ideas regarding operations tied to solidarity, sustainability and welfare. As well as to speak to individuals under 30. To gain advices and give them a sign that we also want to take care of them. The operation has solely this purpose”.
- LVMH invests 74 million euro and scales Tod’s to reach 10% of ownership
- Parallel convergences for LVMH and Kering regarding the market (and PETA)