Shares of Saks Inc. didn’t hold onto all of the gains made last week, but Diego Della Valle has made a $3.1 million profit on his increased investment in the luxury retailer.
Della Valle, chief executive officer of Tod’s SpA, the Italian footwear and accessories firm that includes Saks on its account list, acquired a 5.9 percent stake in Saks through the acquisition of 8.48 million shares between Feb. 20 and May 7. The total consideration for the stake was $30.3 million, making the average price paid $3.57 a share.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)