Friday, 23 Apr 2021 09:07 AM MYT
A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. — Reuters pic
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MILAN, April 23 — French luxury goods group LVMH will increase its stake in fashion company Tod’s to 10 per cent, Tod’s said on Thursday, in a move which sources described as “friendly support” for the Italian struggling leather goods maker.
Tod’s said in a statement that LVMH would buy a 6.8 per cent stake from Tod’s founder and Chairman Diego Della Valle. LVMH, led by French billionaire Bernard Arnault, already owned a 3.2 per cent stake in Tod’s.