Tod’s is embarking on another attempt to go public, this time with L Catterton, a private equity firm backed by LVMH. According to the terms of the agreement, the move is designed to provide the company with more agile management and reduce listing costs. The move marks the second attempt in less than two years to privatize the company.
The Della Valle family, head of Italian luxury shoe manufacturer Tod’s, has announced a new attempt to delist from the Milan Stock Exchange, this time in partnership with L Catterton, a private equity firm backed by French giant LVMH.
The aim of this operation, according to L Catterton, is to offer Tod’s “greater management and organizational flexibility, with faster decision-making”, while reducing management and listing costs.
“I am very pleased to announce this transaction, which will bring additional benefits to the future development of the Tod’s Group, built through continuous investments and ambitious goals,” said Tod’s CEO and founder Diego Della Valle.
The move follows a first abortive attempt at privatization in 2022, when the founding family failed to reach the necessary 90% shareholding threshold.
“We believe that leaving the stock market – with which we have always had an excellent relationship – is the most appropriate strategic choice,” added Diego Della Valle.
Operation parameters
To continue reading this article, subscribe or log in to your account
Discover our plans
- Every day, keep up to date with the latest business news from the world of luxury.
- Receive the essential luxury business news by email every week
- Access all our events
- The Luxury Journals and Luxus Magazine in print and digital versions
Subscribe for 1€
Become an active member of the community of luxury leaders.
Read also>TOD’S JOINS THE AURA BLOCKCHAIN CONSORTIUM
Featured photo : © Tod’s
