Tod’s Group acquired the Roger Vivier luxury brand from Tod’s Chief Executive Officer Diego Della Valle and his family, adding a label credited with creating the stiletto heel.
Tod’s will pay about 415 million euros ($441 million) for the French shoe designer plus about 20 million euros for its Paris operations, Tod’s said late Sunday in a statement. The Della Valle family will reinvest 207.5 million euros in Tod’s via a capital increase at 85.83 euros a share.
Tod’s has operated the Roger Vivier label under license for about a decade. Buying control gives the Italian shoemaker a business with a higher average profitability and a brand that is more exclusive than others it owns, including Fay and Hogan.
After the transaction, which is set to close in January, Diego Della Valle’s stake in Tod’s will rise to 60.66 percent from 57.47 percent. Diego Della Valle and his brother Andrea acquired Roger Vivier in 2001.
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