MILAN (Reuters) – The head of Italian luxury group Tod’s said that if ever decided to sell his company it would be to LVMH’s boss Bernard Arnault but he added that he had no plans like that for now.
Speaking at the Financial Times Luxury Summit, Tod’s founder and chairman Diego Della Valle said LVMH’s recent decision to raise its stake in Tod’s to 10% was a message “that we like to stay together”. He reiterated that if the right opportunity arose, the two groups might “do something together”.
Asked if that meant Tod’s could be sold to LVMH, Della Valle said: “If one day I decide (to sell), I believe in people like Bernard (Arnault),” adding however that he and his family had no plans to sell Tod’s for the time being.
Asked again if, should he decide to sell, it would be to Arnault, Della Valle said: “100 percent, for sure.”
(Reporting by Silvia Aloisi and Claudia Cristoferi; editing by Agnieszka Flak)