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)
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Diego Della Valle (born 30 December 1953 on Sant'Elpidio a Mare) is the President and CEO of the Italian leather goods company, Tod's.
Biography
Diego Della Valle is the older son of Dorino Della Valle and grandson of Filippo Della Valle. Filippo started his shoemaking business in the 1920s, which Diego expanded into the now famous Tod's brand.
In his younger days, Diego studied Law in the University of Bologna, but abandoned the career and launched himself into the marketing of the family's shoemaking business. Even during his younger days, he was business savvy. He used the power of celebrity to popularise his product, such an example was when he persuaded his friend Luca di Montezemolo, who was a protégé of Gianni Agnelli, to present Agnelli with a pair of Tod's driving moccasins. He got Agnelli, the then FIAT boss, to wear Tod's shoes when attending Juventus football matches, which were widely televised. This product placement prompted a spike in sales.
Della Valle now manages Tod's with his brother Andrea. Diego's son, Emmanuelle, is also involved with the family business as the creative director. The factory in Casette d'Ete was designed by his wife, Barbara.
Diego Della Valle vs. Silvio Berlusconi
Della Valle has publicly attacked Berlusconi for the over-taxing of big business and his failure to support smaller Italian business. Berlusconi, on the other hand, has talked of suing Della Valle for defamation.
Other interests
Della Valle sits on the board of a number of companies, such as Ferrari, Maserati, Banca Nazionale del Lavoro and LVMH. He bought the Tuscan football club, ACF Fiorentina, in 2002.
| Linked companies | |
|---|---|
| TOD'S S.P.A. | Chief Executive Officer |
| Fondazione Della Valle Onlus | Chairman |
