Diego Della Valle is not quitting, but would like to delegate more to the newly appointed CEO and to his children and grandchildren, “if they deserve it”. Tod’s group will end the year in line with 2023. “And next year will be one to watch carefully for everyone”, said the group’s chairman (pictured: Imagoeconomica) from the stage of Milan Fashion Global Summit 2024. Della Valle also spoke about supply chains, markets, the stock market and artificial intelligence.
Delegating more
“Every time I say something, everyone then says I’m retiring or going to do something else”, were his words. “There are children coming in and there is a new CEO. I think about not quitting the job but delegating more to the people who come in. And tomorrow, if they deserve it, also to children and grandchildren”. Della Valle said that 2024 will be a flat year for the company, in line with 2023. And that next year will be one “to watch carefully”. According to Tod’s chairman, luxury companies “are trying to become more efficient. A pressing routine to be more competitive and efficient. We have learnt in the post-pandemic that luxury needs less aggressive times, to be told calmly and not to be too widespread, otherwise it loses its desirability”.
The reasons for confidence
Della Valle is confident about the future of the Chinese market. “It will not be the last time that we will see certain momentary situations of crisis in some markets. They worry us now, but do not preclude future growth. Confidence in China? Yes. It will remain the world’s leading luxury market”. Inevitably, in this difficult period, a question about the crisis in the supply chain. “Support for the supply chain? There are many of us doing this in Italy. Many companies protect it and ensure that it grows. Without an artisan supply chain we would be nothing. But we must humanise competitiveness.
Too much competitiveness is good for companies, temporarily, but in the long run it hurts social relations between people”. Della Valle does not preclude a return to the stock market, should the conditions arise (assuming the French partners agree). And when asked if he uses ChatGPT, the patron of Tod’s replied: “Those who know me know that I’m a terrible advocate of electronics. I don’t understand anything about it. Let’s hope that those who will lead the world and artificial intelligence will not forget to lead a world that supports people and individuals”.
Read also:
- Della Valle believes in the opportunities of luxury, but not in the prices
- Della Valle leaves to John Galantic the role of CEO of Tod’s Group
