Tod’s founder has plans for Saks Fifth Avenue - footwearbiz: Leading s

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Tod’s founder has plans for Saks Fifth Avenue

20/05/2009


The founder of high-end footwear and leathergoods brand Tod’s is reported to have become the second-largest shareholder in US department store chain Saks Fifth Avenue.

Italian media reported on May 19 that Diego Della Valle had raised his stake in the US firm to almost 6% and said he was preparing to travel to the US to discuss plans to improve performance at Saks.

Forbes reported that spokespeople at Saks had confirmed that the move leaves Mr Della Valle as the second-largest shareholder after Mexican investor Carlos Slim.

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