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Tod's Founder Diego Della Valle Raises Stake to 81.2%

The brand's chairman made good on a pledge to buy shares after disappointing first-half results earlier this month, a regulatory filing showed.
Tod's founder Diego Della | Source: Shutterstock
By
  • Reuters

MILAN, Italy — Tod's Chairman Diego Della Valle has raised his stake in the luxury goods group he founded to 81.2 percent, making good on a pledge to buy shares after disappointing first-half results earlier this month, a regulatory filing showed.

Italian market regulator Consob said on Tuesday Della Valle's holding dated back to August 9 and included a 4.49 percent stake held through a forward contract that bound him to buy 2.4 million shares by November 26.

Della Valle, a prominent Italian businessman, has been buying more Tod's shares as they come under pressure due to sliding sales.

But the group CFO denied during an earnings call on August 7 it could be taken private.

By Valentina Za.
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