Tod’s shares soar on $ 90.5 million deal with French group LVMH | Lifestyles






FILE – In this archive photo from January 28, 2020, LVMH CEO Bernard Arnault presents the group’s 2019 results at a press conference in Paris. The founder of Arnault and Tod, Diego Dalle Valle, consolidates their friendship even more than 20 years with an agreement for the French group to increase its stake in the Italian luxury goods manufacturer. Shares of Italian luxury fashion group Tod’s jumped more than 10% to € 39.02 on Friday on news of the € 75 million deal.


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Bernard Arnault, CEO of LVMH, and Tod’s founder Diego Dalle Valle further strengthen their 20-year friendship with an agreement for the French group to increase its stake in the Italian luxury goods maker.

Shares of Italian luxury footwear and fashion group Tod’s jumped more than 10% to 39.02 euros on Friday on news of the 75 million euros ($ 90.5 million) deal.

Long-time Tod’s investor LVMH agreed to pay for 2.25 million shares, a 6.8% stake, well above the € 33.10 per share price. The deal is finalized on April 28.

Dalla Valle said in a statement that the agreement “could represent an excellent reason to consider new opportunities to be seized in the future”. He did not provide details.

The Tod’s deal got more expensive after the Italian group added popular social influencer and brand founder Chiara Ferragni to its board earlier this month, raising shares by 12% as it signaled its intention. to target young buyers.

In addition to luxury footwear and fashion brand Tod’s, the group also owns Hogan, Fay and Roger Vivier.

LVMH brands include Christian Dior, Fenty and Tiffany & Co.

The pandemic has brought down the floor for luxury sales, but analysts say it also offers an opportunity for mergers and acquisitions to bolster those poised to restart as economies rebound.

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