• LVMH increases stake in Tod's as “friendly support”

    13 days ago - By Fashion United

    The world's largest luxury group has reinforced a “twenty-five years friendship” through a raised stake at Italian shoemaker Tod's. LVMH's shareholding in Tod's will go from 3.2 percent to 10 percent.
    On Thursday, Tod's said in a statement that LVMH would buy a 6.8 percent stake from Tod's founder and Chairman Diego Della Valle. LVMH, led by French billionaire Bernard Arnault, already owned a 3.2 percent stake in Tod's. Once the transaction takes place on April, 28, Della Valle will own, directly and indirectly, 63.64 percent of Tod's outstanding shares and LVMH will own 10 percent.
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