By  on May 29, 2009

MILAN — Tod’s SpA chairman and chief executive officer Diego Della Valle on Thursday described as strategic the decision to double his stake in Saks Inc. to 5.9 percent.

As reported, between Feb. 20 and May 7, Della Valle, whose Italian footwear and accessories firm includes Saks as a customer, acquired 8.48 million shares in the U.S. department store chain for $30.3 million.

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