Luxury Products and Luxury News
Diego Della Valle, President of Italian luxury label Tod’s, and Italy’s Ministry of Culture have announced that the Tod’s Group will finance a complete restoration of Rome’s historic Colosseum with a monetary commitment of 25 million euros, or about $34 million. Mr. Della Valle (above left), Rome’s Mayor Gianni Alemanno (right), Culture Undersecretary Francesco Giro and the Government Commissioner for central Rome’s archaeological area held a press conference at the Colosseum’s arena to announce the project.
Completed in 80 AD under the emperor Titus,
tods mens shoes, the Colosseum is capable of seating 50,000 spectators and was used for gladiatorial contests and public spectacles such as mock sea battles, animal hunts and executions. The project will proceed in eight phases dedicated to the cleanup and restoration of the architectural icon. “We believe that because the Tod’s Group is a strong global representative of ‘Made in Italy’, it is both an honour and our duty to contribute to the support of our country’s image and credibility, as well as its cultural heritage,” Della Valle declares.
Famed luxury goods firm Tod’s has just unveiled its luxe men’s collection for the Autumn / Winter 2011–2012 season, amping up the formality a notch while remaining the epitome of casual elegance and chic refinement. Highlights for the upcoming season include new takes on Tod’s classic Winter Gommino boots as well as more formal black patent leather loafers (above, right) with a distinct wedged black rubber sole that come in a range of lace-up and slip-on versions. Other featured items include an impressive selection of bags,
tod's men's shoes, luggage accessories and small leather goods such as wallets and iPad cases in a range of leathers and precious exotic skins such as crocodile and python. A standout piece is the black transversal 24-hour bag (above, center) in matte black crocodile, a stylish cross between a business and weekend case. The colour palette for next fall also includes natural hues of rich chocolate brown, warm honey, marble,
tod's women's shoes, stone and earthy sand, including a suede bomber jacket (above, left).
Diego Della Valle — an Italian luxury mogul who is said to have created the trendy “driving shoe” — has put himself in the driver’s seat among Saks investors.
The svelte owner of the Tod’s shoe-and-handbag label has upped his stake in the owner of Saks Fifth Avenue to 19.1 percent, according to a securities filing yesterday, vaulting him past Mexican billionaire Carlos Slim to become the retailer’s largest shareholder.
Sources close to the situation said Della Valle met last month with Saks management during Milan’s fashion week to discuss the company’s strategy. While the meeting was said to be friendly, Della Valle disclosed yesterday he may seek representation on Saks’ board.
Della Valle also said he may talk with top management — which includes CEO Steve Sadove — as well as other big shareholders about “potential strategies for strengthening and further enhancing” Saks’ operations.
A Saks spokeswoman said the retailer doesn’t “comment on discussions with shareholders or vendors.”
Nevertheless, Della Valle’s disclosure could signal a switch from the past two years, during which he has been essentially a passive investor.
While some insiders have speculated that Della Valle might try to buy Saks outright, skeptics think the chain’s spotty real-estate portfolio would be a stumbling block. In yesterday’s filing, Della Valle said his firm may “decide to become strategic and long-term shareholders” of the retailer.
“If (Della Valle) wanted to buy it, he would have bought it already,” said one industry insider, noting that Della Valle has already reaped fat returns since taking an initial Saks stake of more than 5 percent in 2008.
Saks shares, which have surged 24 percent during the past month, rose 49 cents, or 4.8 percent, to close at $10.61 yesterday.
Saks has been the target of takeover rumors, most recently in August, when a report from a London paper speculated that the retailer would receive a takeover offer from a private-equity group.
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