Macellari was also asked to provide additional information on Chiara Ferragni’s appointment as a member of the Tod’s board, which was also revealed last month. LVMH increasing its stake in Tod’s last month immediately stirred speculation that the two groups might increase their cooperation - or that the further concentration of ownership in the hands of Della Valle and Arnault would make it easier for Tod’s to delist its shares and escape the glare of the stock market. There is nothing already, but the reasonable possibility that something can be done together.” This could generate opportunities to consider industrial or commercial, share space in malls, production sites, but all possibilities were not on the table. Della Valle has been sitting on the board of LVMH for 20 years, I think. We speak the same language, and as you know Mr. There is nothing already decided or considered.”įurther pressed to explain, Macellari said Della Valle “wanted to express the proximity between the leading player in the sector, LVMH of course, and our own capability and expertise, sharing the same passion and attitude. There is the potential but it is not immediately translated as a deal that has already been done or designed.
The stake is an additional reason to evaluate potential collaborations in the future and if and when that will happen we will regularly inform the market. “Although the sentence is self-explanatory, if the question is aimed at knowing if there is an agreement, an internal contract or simple talks about a future cooperation, the answer is ‘no,’” responded Macellari, who pointed to “shared values of luxury, quality and appeal of the product. Pusha T, Futura, and More Attend the KENZO By Nigo Launch Partyĭuring a conference call, analysts repeatedly asked chief financial officer Emilio Macellari to clarify Della Valle’s words. Despite the challenging global economic scenario, we are facing the current year with enthusiasm and optimism, very convinced of our products and our strategies.” This may represent an excellent reason to consider further opportunities to be taken together in the future. “We share the values of luxury, quality and products appeal. MILAN - Triple-digit growth in China, a strong performance at the Roger Vivier brand and in e-commerce helped Tod’s SpA report a 17 percent increase in revenues in the first quarter of the year to 178.7 million euros, although analysts were especially intrigued by a comment made by Diego Della Valle, chairman and chief executive officer.Īddressing LVMH Moët Hennessy Louis Vuitton’s acquisition of additional shares in Tod’s last month, reaching a 10 percent stake, as reported, Della Valle said in a statement that “this operation consolidates the friendship” between himself, his family and the French group’s chief Bernard Arnault and his family, which has spanned over more 20 years.
0 kommentar(er)
