MILAN (Reuters) – Tod’s founder and top shareholder Diego Della Valle bought a further 1 percent of the Italian luxury goods group this week, a regulatory filing showed, following disappointing full-year sales.
The move follows the purchase of a similar 1 percent stake last week when the stock was hit by the weak 2018 sales figures.
Both investments were done outside of a commitment to buy up to 5 percent of the company which Della Valle took in December as a proof of his confidence in the group, the company said. Della Valle owned 60.7 percent of Tod’s as of mid-2018.
(Reporting by Claudia Cristoferi, writing by Valentina Za, editing by Stephen Jewkes)