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 — 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.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.
Any fashion company that is contemplating going public needs to have not only the product and brand fundamentals right but also a business strategy that can easily be understood by the markets, writes Imran Amed.
Consumer spending increased just 0.8 percent last month as the labour market cools.