TOD’S DIEGO DELLA VALLE NAMED TO LVMH BOARD
PARIS — Diego Della Valle, chairman and managing director of Tod’s SpA, has joined the board of directors of LVMH Moet Hennessy Louis Vuitton.
The French luxury giant, which owns 3.5 percent of Tod’s, characterized Della Valle’s appointment as indicative of its international scope and its close relations with the Italian leather goods and footwear executive.
“[Della Valle] is a highly talented entrepreneur in the Italian market and an important partner for us, who has played a significant role in the development of the luxury goods industry, in Italy and throughout the world,” LVMH chairman and chief executive Bernard Arnault said in a statement.
LVMH also owns 50 percent of the Italian fragrance firm Acqua di Parma, which is partly owned by Della Valle and other Italian investors.
Della Valle, reached late Monday, said, “I am very happy because of the personal relationship I have with Mr. Arnault and because LVMH is globally the most important luxury group. I am also pleased as an Italian to be part of this group.”
Meanwhile, speculation is heating up in Europe that LVMH might be readying a sale of Pommery, one of its underperforming champagne brands. An LVMH spokesman declined to comment.
However, LVMH has vowed to focus on its core business and channel investments toward its star brands. Among its champagne holdings are Dom Perignon, Moet & Chandon, Veuve Clicquot and Krug. Pommery is ranked seventh worldwide.