Diego Della Valle

Italian businessman

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Diego Della Valle

Della Valle in 2003

Born|  (1953-12-30) 30 December 1953 (age 71)

Sant'Elpidio a Mare, Marche, Italy

Alma mater| University of Bologna
Occupation(s)| Lawyer
businessman
Known for| | Major shareholder of Tod's|

|

Former Owner of ACF Fiorentina|
Owner of Maison Schiaparelli|
Board member of| Chairman of Tod's
Spouse| Barbara Pistilli
Children| 2
Relatives| Andrea (brother)

Diego Della Valle (born 30 December 1953) is a controversial Italian businessman who is the chairman of Tod's. He is the former owner of ACF Fiorentina which he sold after a criminal conviction for match fixing as part of the Calciopoli scandal.

## Early life and education

[edit]

Della Valle was born and raised in Sant'Elpidio a Mare[1] in Italy’s Marche region. He is the elder son of Dorino Della Valle and grandson of Filippo Della Valle. Filippo started his shoemaking business in the 1920s;[2] Diego later expanded it into Tod's.[3][4][5]

Della Valle studied Law at the University of Bologna, obtaining an academic degree in 1975.

## Career

[edit]

Della Valle joined the family business in 1975[2] and took it over in 1978.[6] That same year, he named the company J.P. Tod's. From 1996, he started converting the company's stores in the United States to J. P. Tod's boutiques.[7] The brand later dropped the "J.P." in 1999 after the brand became inadvertently known as solely "J.P.'s" instead of the preferred Tod's.[8][9] Della Valle manages Tod's with his brother Andrea.[4][5]

In the 1980s, Della Valle discovered work jackets worn by firefighters in Maine and created a brand copying the jackets.[10]

In 1993, Della Valle joined forces with Montezemolo and Paolo Borgomanero on reviving the Acqua di Parma brand.[11] Since 2001, he has been a minority shareholder in funds Charme Investments (Luxembourg) and Charme II (Rome), both of which were founded by Luca Cordero di Montezemolo and control knitwear brand Ballantyne and furniture firm Poltrona Frau.[12]

In 1999, Della Valle raised his stake in British shoemaker Church's to 9.5 percent, setting off the speculation about a takeover; he ultimately decided against bidding against Prada which ended up acquiring the company.[13][14] He agreed to sell his holding to Prada.[15] In 2004, Della Valle and his brother Andrea took a 40.6 percent stake in eyewear company Marcolin through their holdings.[12] Through his Gruppo Diego Della Valle holding, he has owned the fashion brand Maison Schiaparelli since 2007. He has holdings in Bialetti;[12] Mediobanca;[12] and Piaggio.[2]

Around 2008, Della Valle and Montezemolo started working on the launch of high-speed train company Nuovo Trasporto Viaggiatori.[2] In 2018, both Della Valle and Montezemolo sold, with all other shareholders, NTV to Global Infrastructure Partners' GPI III fund for nearly €2 billion; Della Valle made about €340 million from the deal.[16] Between 2009 and 2010, Della Valle increased his stake in luxury department store operator Saks, Inc. just above 19 percent, becoming the company's largest shareholder and sending its shares to a two-year high.[17][18] When Hudson's Bay Company bought Saks, Inc. for US$2.4 billion in 2013,[19] He was said to have made around $136 million on the deal.[20] In 2013, he made a failed offer for Italy’s La7 television network.[21]

In 2014, Ferrari director Lapo Elkann attacked Della Valle in a series of posts including the common accusation that Tod's flagship gommino shoe (launched in 1979) was an imitation of The Original Car Shoe (founded in 1963, now owned by Prada), declaring “Car Shoe founded in 1963…The original!"[22][23]

In 2023, luxury handbag brand Tribe of Two sued Tod's for trademark infringement after it introduced a "double-T" logo that was confusingly similar to Tribe of Two's logo which had been registered with the United States Patent and Trademark Office since 2013.[24][25] According to the lawsuit, Della Valle had been “looking for a logo-based T that could represent TOD’S, much as Louis Vuitton and its LV, or Gucci and its GG” but did not have such a logo until he began infringing Tribe of Two's logo.[24]

In 2024, Della Valle lost a long-running battle with French tax authorities who had investigated the company's odd accounting practices during its controversial acquisition of Roger Vivier resulting in "ambiguous dealing with shareholders" amidst accusations that the family had personally enriched themselves at the expense of shareholders.[26] Between 2003 and 2015, Roger Vivier was owned by the Della Valle family via holding companies in Portugal and then Luxembourg, but that the licence was held by Tod's, which was controlled by the same family (with a stake of more than 50%). Despite opposition from Tod's minority shareholders, the company paid royalties to the Della Valles amounting to €52m from 2004 to 2015, personally enriching the executives.[26][27]

## Calciopoli scandal and criminal conviction

[edit]

In 2002, Della Valle bought the Tuscan football club ACF Fiorentina.[3][5] His ownership was engulfed in the Calciopoli match-fixing scandal with Della Valle personally accused of match fixing.[28][29] Fiorentina was initially to be relegated to Serie B as punishment but the punishment was changed to 30 penalty points in the 2005–06 Serie A resulting in a final placement of sixth instead of third.[30][31][full citation needed] As part of the Calciopoli trials, Della Valle was criminally convicted of sports fraud with prosecutors seeking a 5 year prison sentence and permanent ban from sports management.[32]

Della Valle was found guilty in November 2011 and sentenced to 15-month prison sentence.[33][34] In December 2013, his appeals were rejected and the conviction was upheld but he was not required to serve his prison sentence due to the statute of limitations expiring during his appeals.[35] He was also suspended for three years and nine months.[36] He subsequently exited his ownership of ACF Fiorentina with Rocco Commisso buying the club.[37] In February 2022, Della Valle was among those ordered to pay over 200,000€ in compensation to the Federazione Italiana Giuoco Calcio for legal costs due to their culpability in the scandal.[38]

## Other activities

[edit]

### Boards

[edit]

* Maserati, Member of the Board of Directors
* Banca Nazionale del Lavoro, Member of the Board of Directors
* Assicurazioni Generali, Member of the Board of Directors (–2012)[39]
* Ferrari, Member of the Board of Directors (–2012)[40]
* LVMH, Member of the Board of Directors (since 2002)[11][16]

* General Confederation of Italian Industry, Member of the Executive Committee (–2006)[41][42]

### Recognition

[edit]

* 1996: Order of Merit for Labour[2]
* 2024: Honorary citizen, Arquata del Tronto[43]

### Political activities

[edit]

In 1993, Della Valle supported and financed Silvio Berlusconi’s populist Pole of Freedoms coalition,[42] but soon bowed out, citing differences in values.[44] Della Valle describes himself as a political moderate and publicly attacked Berlusconi for the over-taxing of big business and his failure to support smaller Italian businesses.[44] In return, Berlusconi talked of suing Della Valle for defamation.[3][5] Della Valle is close friends with centrist politician Clemente Mastella.[42]

In the run-up to the 2013 elections, Della Valle financially supported Mario Monti's campaign.[45] In 2015, Italian weekly newsmagazine L'Espresso reported that Della Valle had registered a logo proclaiming “Noi italiani [We Italians]” to the trademark office of the country’s Ministry of Economic Development, for categories related to a political party.[46]

### Luxury purchases

[edit]

In 2005, Della Valle bought a 52-foot mahogany Marlin yacht formerly owned by John F. Kennedy at a Christie’s auction.[2][47] For his travels, he owns a helicopter (first a Eurocopter AS365 Dauphin,[6] later replaced with a AgustaWestland AW139)[48] and a private jet (first a Dassault Falcon 2000,[2] later replaced with a Gulfstream G550).[48]

### Property portfolio

[edit]

Della Valle lives in Sant'Elpidio a Mare,[1][16] where he owns the 370-acre Villa Palombarone.[48] He also has residences in Milan, Paris, New York, La Gorce Island,[49] and a 12-acre compound in Capri.[50][48]

In 2023, Della Valle suffered a decisive legal defeat with the Consiglio di Stato affirming a 2018 decision that upheld the municipality of Anacapri's 2012 order requiring that Della Valle halt and undo unauthorized expansions including a wellness centre, solarium enlargement, and structural renovations to his Capri residence, a property bound by strict environmental and cultural constraints.[51] Della Valle’s defences was dismissed as baseless.[51]

## Bribery accusations

[edit]

In 2006, The Daily Mail reported that Diego Della Valle had given the EU Trade Commissioner, Peter Mandelson, a free yacht holiday and lavish meals as Mandelson imposed tariffs on Chinese shoes that benefitted him.[52][53][54][55] The appearance of corruption given the suspicious timing was widely reported in the British media.[52][53][54][55]

## Personal life

[edit]

Della Valle is married to architect Barbara Pistilli, his third wife.[6][56] Described as a "familial philanderer", he was previously married to her older sister, Simona.[57] He has a son with both sisters making his sons simultaneously half brothers and cousins.[58]

He is known as a womanizer.[59] He also has a child with the journalist Barbara Parodi Delfino.[60]

## References

[edit]

1. ^ a b Horacio Silva (17 October 2010), Profile in Style: Diego Della Valle New York Times.
2. ^ a b c d e f g Andrew Roberts (1 March 2009), Power Player W.
3. ^ a b c "Diego Della Valle". 18 January 2010. Retrieved 12 March 2011.
4. ^ a b Betts, Kate (8 March 2006). "Driving Force: Diego Della Valle". Time. Archived from the original on 11 January 2007. Retrieved 12 March 2011.
5. ^ a b c d Shamoon, Stella (2 April 2006). "Diego Della Valle: Going in feet first". The Independent. Archived from the original on 13 December 2009. Retrieved 12 March 2011.
6. ^ a b c Kate Betts (8 March 2006), Driving Force: Diego Della Valle Time.
7. ^ Constance C. R. White (1 October 1996), J. P. Tod's Conversions New York Times.
8. ^ Yorker, The New (2 May 2004). "Shoe Dreams". The New Yorker. ISSN 0028-792X. Retrieved 28 October 2023.
9. ^ Sheryl Garratt (16 October 2011), Diego Della Valle of Tod's: king of loafers The Daily Telegraph.
10. ^ How Maine Firefighters Sparked the Beginnings of an Italian Heritage Brand
11. ^ a b LVMH appoints Diego della Valle, chairman of Tod’s LVMH, press release of 23 March 2002.
12. ^ a b c d Luisa Zargani (31 October 2011), The Numbers Behind Diego Della Valle’s Empire Women's Wear Daily.
13. ^ Lucy Baker (3 September 1999), Prada and Della Valle have designs on Church The Independent.
14. ^ No Bid By Della Valle New York Times, 12 October 1999.
15. ^ James Fallon (31 October 2011), Deal For Church Uncovers Prada Women's Wear Daily.
16. ^ a b c Rachel Sanderson (16 February 2018), Tod’s owner Diego Della Valle: ‘Millennials are not for everyone’ Financial Times.
17. ^ Italy's Della Valle says Saks stake strategic inv Reuters, 28 May 2009.
18. ^ Brad Dorfman and Antonella Ciancio (21 October 2010), Italian businessman becomes Saks' largest holder Reuters.
19. ^ "Hudson's Bay to Buy Luxury Retailer Saks for $2.4 Billion". Bloomberg.com. 29 July 2013. Retrieved 23 May 2018 - via www.bloomberg.com.
20. ^ Phil Wahba and Solarina Ho (29 July 2013), Hudson's Bay CEO bets big on department stores with Saks buy Reuters.
21. ^ Rachel Sanderson (17 February 2013), Della Valle makes offer for La7 network Financial Times.
22. ^ Lapo Elkann Confronts Diego Della Valle on Facebook
23. ^ Lapo prende a scarpate Diego Della Valle
24. ^ a b TOD’S Hit With Trademark Infringement Lawsuit Over “Knock-Off” Logo
25. ^ Brand Popularized on ‘Scandal’ Sues Tod’s Over ‘Confusingly Similar’ Logo
26. ^ a b French taxman brings Roger Vivier to heel over Tod's odd accounting
27. ^ Tod’s Acquires Roger Vivier Trademark
28. ^ "Goal.com Calciopoli Debate: It Is About Time Juventus Questioned Why Were They Relegated & Stripped Of Two Scudetti | Goal.com". www.goal.com. 23 March 2015. Retrieved 8 March 2025.
29. ^ "Italy sighs ahead of match-fixing hearing". Reuters. 14 December 2007.
30. ^ "Testo della decisione relativa al Comm. Uff. N. 1/C – Riunione del 29 giugno / 3 - 4 - 5 - 6 - 7 luglio 2006" (PDF) (in Italian). Commissione d'Appello Federale – Federazione Italiana Giuoco Calcio. 14 July 2006. p. 152. Retrieved 8 August 2015.
31. ^ La Gazzetta dello Sport, 12 December 2006. sfn error: no target: CITEREFLa_Gazzetta_dello_Sport,_12_December_2006 (help)
32. ^ Kiefer, Peter (15 July 2006). "4 Teams Punished in Italian Scandal". The New York Times. ISSN 0362-4331. Retrieved 8 March 2025.
33. ^ Zargani, Luisa (16 October 2013). "Diego Della Valle's Sports Fraud Saga Continues". WWD. Retrieved 8 March 2025.
34. ^ "Calciopoli: 5 anni e 4 mesi per Moggi. Colpevoli anche Lotito, i Della Valle, Bergamo e Pairetto". Il Sole 24 ORE (in Italian). Retrieved 8 March 2025.
35. ^ "Calciopoli e la prescrizione che salva i Della Valle - Panorama". www.panorama.it (in Italian). Retrieved 8 March 2025.
36. ^ Kiefer, Peter (26 July 2006). "Court Reduces Penalties in Italian Match-Fixing Scandal". The New York Times. ISSN 0362-4331. Retrieved 8 March 2025.
37. ^ Panja, Tariq (6 June 2019). "Rocco Commisso, Cosmos Owner, Buys Italy's Fiorentina". The New York Times. ISSN 0362-4331. Retrieved 8 March 2025.
38. ^ "Calciopoli: Lotito, Della Valle e Moggi condannati a risarcire la Figc". www.ilmattino.it (in Italian). 18 February 2022. Retrieved 8 March 2025.
39. ^ Resignation of Diego Della Valle Assicurazioni Generali, press release of 5 June 2012.
40. ^ John Arlidge (30 September 2012), Tycoon roars off Ferrari board The Times.
41. ^ Eric Sylvers (21 March 2006), An old ally of Berlusconi becomes a foe New York Times.
42. ^ a b c Amanda Kaiser (6 April 2006), Diego Della Valle’s Political Profile Women's Wear Daily.
43. ^ Martino Carrera (31 May 2024), Tod’s Diego and Andrea Della Valle Receive Arquata del Tronto Honorary Citizenship Women's Wear Daily.
44. ^ a b Andrea Lee (1 September 2011), The Tycoon Next Door W.
45. ^ Andrea Cuomo (18 January 2013), Il Prof ha deluso i suoi sponsor: i grandi capitali lo lasciano solo Il Giornale.
46. ^ Alexander Fury (23 September 2016), Diego Della Valle of Tod’s on Design, Politics — and Tattoos T: The New York Times Style Magazine.
47. ^ Liz Alderman (8 October 2010), A Shoemaker That Walks but Never Runs New York Times.
48. ^ a b c d James Reginato (9 March 2018), How Diego Della Valle Took Tod’s from Small-Town Cobbler to Global Success Vanity Fair.
49. ^ Billy Joel Sells Miami Mansion To Italian Billionaire Diego Della Valle Forbes, 12 June 2013.
50. ^ Peter Aspden (12 August 2011), Lunch with the FT: Diego Della Valle Financial Times.
51. ^ a b "Lavori illegittimi a Villa Materita: Diego Della Valle perde la sua battaglia". Stylo24 - Ultime Notizie su Napoli e la Campania (in Italian). 15 June 2023. Retrieved 23 January 2025.
52. ^ a b "Lord Mandelson faces fresh questioning over his integrity after new allegations". Telegraph. 4 February 2025. Archived from the original on 4 February 2025. Retrieved 4 February 2025.
53. ^ a b "Lord Mandelson attacks 'innuendo' over Russian oligarch". The Times. 4 February 2025. Archived from the original on 4 February 2025. Retrieved 4 February 2025.
54. ^ a b "Memo Pad: Friends in High Places… Testino Shoots Chace Crawford… Snapshot… – WWD". WWD. 12 June 2018. Archived from the original on 12 June 2018. Retrieved 4 February 2025.
55. ^ a b "The Corfu controversy: How the world really works | The Independent". The Independent. 4 February 2025. Archived from the original on 4 February 2025. Retrieved 4 February 2025.
56. ^ "Biografia di Diego Della Valle". www.cinquantamila.it (in Italian). Retrieved 15 January 2025.
57. ^ "The Tycoon Next Door". W Magazine. 1 September 2011. Retrieved 8 January 2025.
58. ^ Rao, Venessa Lau,Priya (21 April 2010). "All In the Family: Notorious Familial Philanderers". WWD. Retrieved 8 January 2025.`{{cite web}}`: CS1 maint: multiple names: authors list (link)
59. ^ "Adusbef - MA QUANTE BELLE AMICHE, SIGNOR DELLA VALLE: LA CAPRI DELLO SCARPARO E' TUTTA UN BACIO". www.adusbef.it. Retrieved 15 January 2025.
60. ^ "montezemolo visto da perna: la sciantosa dell'industria nazionale. presidente da sempre di qualcosa". Dagospia (in Italian). 24 March 2017. Retrieved 15 January 2025.

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