Diego Della Valle, the founder of Tod’s, has demonstrated his unwavering support for the luxury goods group by significantly increasing his voting stake in the company to 81.2%. This move comes in light of disappointing first-half results that Tod’s experienced earlier this month. Della Valle’s commitment to purchase shares showcases his dedication to the brand and his confidence in its future prospects.
The Italian market regulator Consob confirmed the details of Della Valle’s increased stake, which includes a 4.49% holding through a forward contract that mandates the purchase of 2.4 million shares by November 26. This strategic acquisition of shares highlights Della Valle’s belief in Tod’s potential, even amidst challenging market conditions and declining sales.
While there has been speculation about the possibility of Tod’s being taken private, the group’s CFO denied this during an earnings call on August 7. Instead, Della Valle’s increased voting stake emphasizes his desire to play a more influential role in guiding the company’s strategic decisions and future direction.
Overall, Della Valle’s actions exemplify his continuous commitment to Tod’s and his determination to navigate the luxury goods group through industry challenges towards sustainable growth. This development could mark a new chapter for Tod’s as it strives to uphold its reputation and strengthen its position in the competitive luxury market.
For more information on Tod’s and Diego Della Valle’s latest moves, please visit Tod’s Official Website and Bloomberg’s Coverage.
