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Tod's Della Valle: if I ever decided to sell it would be to LVMH, but no plan for now

May 19, 2021 at 06:09 am EDT

MILAN (Reuters) - The head of Italian luxury group Tod's said that if he ever decided to sell his company it would be to LVMH's boss Bernard Arnault but he added that he had no current plans to do so.

Speaking at the Financial Times Luxury Summit, Tod's founder and chairman Diego Della Valle said LVMH's recent decision to raise its stake in Tod's to 10% was a message "that we like to stay together". He reiterated that if the right opportunity arose, the two groups might "do something together".

Asked if that meant Tod's could be sold to LVMH, Della Valle said: "I have a family and we love what we do (...). But if one day I decide (to sell), I believe in people like Bernard (Arnault)."

Asked again if, should he decide to sell, it would be to Arnault, Della Valle said: "100 percent, for sure."

The Tod's chairman also added that he is preparing to step back from day-to-day management at the group. "No one believes me but I need one year to prepare the team and I am ready to (free up my time) by 60-70%," he said.

(Reporting by Silvia Aloisi and Claudia Cristoferi; editing by Agnieszka Flak and Louise Heavens)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	CHRISTIAN DIOR SE	727.5 EUR	-2.35%	-2.94%	144B
	LVMH	778 EUR	-2.77%	-2.36%	427B

Diego della Valle

Diego Della Valle (born 30 December 1953 on Sant'Elpidio a Mare) is the President and CEO of the Italian leather goods company, Tod's.

Biography
Diego Della Valle is the older son of Dorino Della Valle and grandson of Filippo Della Valle. Filippo started his shoemaking business in the 1920s, which Diego expanded into the now famous Tod's brand.

In his younger days, Diego studied Law in the University of Bologna, but abandoned the career and launched himself into the marketing of the family's shoemaking business. Even during his younger days, he was business savvy. He used the power of celebrity to popularise his product, such an example was when he persuaded his friend Luca di Montezemolo, who was a protégé of Gianni Agnelli, to present Agnelli with a pair of Tod's driving moccasins. He got Agnelli, the then FIAT boss, to wear Tod's shoes when attending Juventus football matches, which were widely televised. This product placement prompted a spike in sales.

Della Valle now manages Tod's with his brother Andrea. Diego's son, Emmanuelle, is also involved with the family business as the creative director. The factory in Casette d'Ete was designed by his wife, Barbara.

Diego Della Valle vs. Silvio Berlusconi
Della Valle has publicly attacked Berlusconi for the over-taxing of big business and his failure to support smaller Italian business. Berlusconi, on the other hand, has talked of suing Della Valle for defamation.

Other interests
Della Valle sits on the board of a number of companies, such as Ferrari, Maserati, Banca Nazionale del Lavoro and LVMH. He bought the Tuscan football club, ACF Fiorentina, in 2002.

Source @ Wikipedia

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