Italy's Tod’s could further strengthen its ties with LVMH but there are no ongoing talks and no decision has been made, a top Tod’s executive said after the French giant increased its stake in the group.
The French luxury giant is strengthening its LVMH Fashion Group division, whose CEO, Sidney Toledano, will be supported by Guillaume Motte, current president for Europe and the Middle East at Sephora, starting May 3.
French billionaire Arnaud Lagardere has agreed to relinquish control over his media empire, which includes the Hachette publishing house, under pressure from investors and influential business tycoons.
French luxury goods group LVMH will increase its stake in fashion company Tod’s to 10%, Tod’s said, in a move which sources described as “friendly support” for the Italian struggling leather goods maker.
During its annual general meeting, the French luxury giant highlighted its "remarkable resilience" during the pandemic and claimed to be well-positioned for strong growth in 2021, thanks particularly to Tiffany & Co..
Made in Italy Fund bought Italian high-end casual brand Dondup from L Catterton, a buyout firm founded by LVMH owner and French billionaire Bernard Arnault, the Italian private equity said on Thursday.