The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
MILAN, Italy — The chairman of luxury company Tod's Diego Della Valle denied speculation over the possible sale of the group, whose majority is owned by his family.
An Italian newspaper reported on Monday that Della Valle had started the reorganisation of the family's holding companies and that the move could pave the way to a future sale of the group.
The Della Valle family currently owns just over 60 percent of the Tod's Group, known for its Gommino shoes and leather accessories, through two separate holding companies.
By Claudia Cristoferi; editor: Giulia Segreti.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.