|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||46.94 - 47.78|
|52-week range||17.55 - 48.68|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
The head of Italian luxury group Tod's said that if he ever decided to sell his company it would be to LVMH's boss Bernard Arnault but he added that he had no current plans to do so. Speaking at the Financial Times Luxury Summit, Tod's founder and chairman Diego Della Valle said LVMH's recent decision to raise its stake in Tod's to 10% was a message "that we like to stay together".
Tod's and LVMH are considering whether the two luxury groups groups can "do something together" after the French giant increased its shareholding in the Italian company to 10% earlier this month, Tod's chairman said on Thursday. "The (stake increase) deal was pretty symbolic but the idea is to see whether we can do something together, we would be happy to do so," Diego Della Valle said at an online conference, without elaborating. Last week LVMH, led by French billionaire Bernard Arnault, said it would buy a 6.8% stake from Tod's founder Della Valle, raising its total holding in the company to 10%.
MILAN (Reuters) -Shares in Tod's hit a 16-month high on Friday on expectations that LVMH could help to relaunch the struggling Italian brand and eventually take it over after the French luxury goods giant's decision to raise its stake in Tod's. Long seen as a takeover target, Tod's has grappled with shrinking sales for the past five years and the pandemic has further hampered efforts to revive a brand that became famous in the 1990s for its gommino loafers but struggles to appeal to younger shoppers. Tod's said late on Thursday that LVMH would buy a 6.8% holding for 74.5 million euros ($89 million) from founder and Chairman Diego Della Valle, adding to a 3.2% stake which the group owns since Tod's bourse listing in 2000.