Tod's CEO says he doesn't 'have to sell' brand

Diego Della Valle, the founder and CEO of Tod's, revealed during Milan Fashion Week that he has no plans to sell the family business.

Earlier this month, Italian fashion group Tod's S.p.A announced via an ad hoc statement that investment company L Catterton, with the family's support, would take all shares off the Milan stock exchange.

According to the CEO, however, there is no reason to worry about the company being put out of business. He told Reuters, which initially reported the news: "We don't have to sell anything, we have a family business with young people who want to do this work, what could be better than that."

Tod's Group has 54 percent of the shares, L Catterton 36 percent and Delphine SAS - a subsidiary of LVMH - has 10 percent.