July 7 (Reuters) - Diego Della Valle, chairman and chief executive of Italian luxury brand group Tod’s, reiterated he had no intention of selling the company, often seen by analysts as a possible target for investors.
“I have bought Tod’s shares in the last year and a half. I am going in a clear direction”, Della Valle said, speaking in a online conference organised by RCS Academy, when asked about a possible merger with big luxury conglomerates, such as LVMH .
The chairman and founder of the Italian luxury goods group has raised his potential share of voting rights in the firm to above 80%.
Like other Italian fashion brands, Tod’s has been struggling to rejuvenate its image and product offering to attract younger shoppers and is now having to deal with the negative impact of the coronavirus crisis.
Reporting by Claudia Cristoferi, editing by Giulia Segreti