Italy's Tod’s could further strengthen its ties with LVMH but there are no ongoing talks and no decision has been made, a top Tod’s executive said after the French giant increased its stake in the group.
Alber Elbaz, who died Saturday, created collections for a half-dozen fashion houses including his own, though it was a 14-year tenure at Lanvin that earned him a place among the Pantheon of great all-time designers.
The designer passed away in Paris at the age of 59. He had recently launched his own label, AZ Factory, in collaboration with Swiss-based luxury group Richemont, and previously led design at Lanvin from 2001 to 2015.
French luxury goods group LVMH will increase its stake in fashion company Tod’s to 10%, Tod’s said, in a move which sources described as “friendly support” for the Italian struggling leather goods maker.
On Friday, the share price of Tod’s on the Milan Stock Exchange was strongly on the upswing, the market saluting the appointment of Chiara Ferragni to the group’s board as Tod’s aims to appeal to a younger audience.
“Everyone reacts to sincere things. When you do something that you really believe in it, and not just for commercial reasons, people react... people understand,” argues Roger Vivier's artistic director, Gherardo Felloni.
Inspired by the Black Lives Matter movement, the American fashion organization has announced the launch of Impact, a multi-layered initiative that aims to create opportunities in fashion for underrepresented communities.