Italian fashion group Tod's says LVMH increased its shareholding to 10%

Italian fashion group Tod's said on Thursday that French luxury giant LVMH has increased its shareholding in Tod's to 10%.

Tod's founder Della Valle entered into a sale and purchase agreement with a subsidiary of LVMH for the sale of shares of Tod's, representing 6.8% of the Italian company's share capital, Tod's said in a statement. LVMH already owned 3.2%. of the share capital of the company.

The price per share is 33.10 euros, the statement added.