An investment firm backed by LVMH is betting demand from wealthy Americans for quiet luxury will ensure its 510 million euro ($545 million) stake in Italian shoemaker Tod's yields the double-digit returns private equity typically seeks. L Catterton, created by U.S. fund Catterton and LVMH-owner Groupe Arnault, on Friday secured sufficient shares to take Tod's private once the deal, valuing the company at just over 1.4 billion euros ($1.5 billion), formally concludes in the coming days. Listed in Milan but controlled by its founding Della Valle family, Tod's profitability has lagged rivals.
Italian Shoemaker Tod's to Court US Lovers of Quiet Luxury usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
L Catterton to Take Tod's Private businessoffashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessoffashion.com Daily Mail and Mail on Sunday newspapers.
L Catterton Places Bet on Tod's Quiet Luxury econotimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econotimes.com Daily Mail and Mail on Sunday newspapers.