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