LVMH, Moët Hennessy Louis Vuitton, the world's leading luxury products group, today announced that Diego della Valle, Chairman and Managing Director of Tod's, the Italian leather goods group, has joined its Board of Directors.
The Board of Directors of LVMH will submit the nomination of Diego Della Valle, whose experience and success are internationally renowned, for approval at the company's forthcoming AGM.
This appointment is indicative of the international nature of the French group's strategy and the natural culmination of the close relations which LVMH enjoys with Diego della Valle's group.
LVMH acquired 3.5% of the share capital of Tod's at the time of its flotation in November 2000. LVMH also holds 50% of Acqua di Parma alongside Italian investors, including Diego della Valle, who hold the remaining 50 %.
Bernard Arnault, Chairman and CEO of LVMH said, "It is a great honour to welcome Diego della Valle onto our board. He 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. We are sure that with his depth of experience, he will make valuable contributions to our international development".