Italian fashion group Tod’s said on Thursday that French luxury giant LVMH has increased its stake in Tod’s to 10 percent.
Tod’s founder Della Valle entered into a purchase and sale agreement with a subsidiary of LVMH for the sale of shares of Tod’s, which represent 6.8 percent of the Italian company’s share capital, Tod’s said in a statement. LVMH already owned 3.2 percent of the company’s share capital.
The price per share is 33.10 euros, the statement said.
By Kanishka Singh