LVMH to acquire a 6.8% stake in Tod’s from Diego Della Valle for $104m.

LVMH, a luxury goods manufacturer, agreed to acquire a 6.8% stake in Tod’s, a luxury leather manufacturer, from its chairman Diego Della Valle, for $104m. “I am delighted by this transaction which consolidates the friendship between myself, my family, Bernard and his family, that lasts longer than 20 years now. We share the values of luxury, quality and products appeal. This may represent an excellent reason to consider further opportunities to be taken in the future ahead," Diego Della Valle, Tod’s Chairman.