Della Valle’s new generation to enter Tod’s

«Our children want to be in this business. Now, they are doing their training around the world, but they will soon enter the company,» Diego Della Valle confirmed for the first time the arrival of the fourth generation in the family business. His son Filippo and grandson Leonardo, Andrea Della Valle’s eldest son, will probably be the first to arrive. «Seeing our children in my father’s office would make me very happy,» the entrepreneur emphasized, speaking to MFF in an exclusive interview from the room of his father Doro (which stands out in a large portrait with the background of a work of art by Mario Ceroli, ed.) in the largest building of the headquarters in Casette d’Ete, in the province of Fermo.

The chairman and ceo talks about the Group’s future a few days before the announcement of first quarter figures, schedules for May 10, and a few months after passing the one billion mark in sales. «The billion is not our goal, which is much higher if we want to compete in today’s world,» he explained (see box on page II). During the meeting, the manager does not shy away from any questions, including those about Bernard Arnault, the world’s top businessman, in whose holding company Lvmh Della Valle has sat for over 20 years and has just been given a new role (see MFF of April 20). Not even from questions about Giorgia Meloni’s Government actions and her executive, and about the importance of listing on the stock market or Chiara Ferragni’s role on Tod’s board.

From Draghi to Meloni. Has the perception of Italy changed in the world?

Mario Draghi is a man with an important reputation, and he has put it at the disposal of the country by putting his face out there and taking enormous risks and responsibilities. Giorgia Meloni has just arrived, I think she will have to play her cards very well to be able to match Draghi’s reputation, which he built over a 30–40-year serious career. So, I wish her success in doing that quickly.

Have you met the Prime Minister yet? What do you think about her actions?

I do not know her personally. She is a young woman who won the election. Let’s let her work, then we will go back and check what she has done before making a judgment. The important thing is to have a clear idea that the future of the country is a challenge with problems coming from far away. Finding a solution will not be easy. The commitment must be to think about how to solve serious problems and have a team of very knowledgeable people.

Do we really need a High School of Made in Italy?

I like the idea, let’s do it. If they have pragmatic ideas to implement in the immediate term, Tod’s is in.

Minister Adolfo Urso is planning a framework law on fashion. What are the entrepreneurs asking for?

The ones I know as for very little and do their own thing. We have always been used to doing and not asking, but we would like to have an organized country that works well, that welcomes people coming in and, as far as we are concerned, that has as less bureaucracy as possible when it comes to the things we have to do or that we could do. All of this would also improve the public-private relationship.

What is the thing the sector needs the most?

We need great help for Smes, as well as for vocational schools. Above all, we need a country that is livable and expresses our strength. We Italians have great capabilities. People abroad often think something different because of distorted communication but remember that we are a great people, and we must make others appreciate us.

If you could give a suggestion to the Government about Made in Italy, what would you say?

We should more and more make the business work with the world of Italian culture, art, and monuments. By joining this forces, we can achieve excellent results. Today, the whole world comes to see Italian monuments and we have to be ready with an organized and safe country that is inviting to the people who want to discover us. In addition to showing them the beauty of Italy, we can also sell them quality products. This means, therefore, being able to allow companies, even small ones, to make a profit. I think the Ministry of culture (chaired by Gennaro Sangiuliano, ed.) today is the most important ministry on the industrial level.

Lvmh confirmed you in the board of directors, in which you have sat for over 20 years, with a new role. How have you seen Bernard Arnault’s Group grow?

I arrived 20 years ago and saw it grow in a simple way, as a Group that is dedicated to its work. Arnault is a great connoisseur of the world of quality, he is a man who works hard every day of the week and has a team of capable people around him. I have always thought they were serious people with great skills, and they have proven it with facts. They do not need much of an introduction.

Could Arnault’s example be replicated in Italy? Could there ever be an Italian luxury hub?

I am not sure how much Italian entrepreneurs want to build a hub, because I feel like many want to stay on their own, they do their interests well, and they have wonderful companies. Some may also decide that a hub is not needed, or they do not want to do it, or in some cases, they may decide that they are considered former great artisans with large size, and they feel like continuing to do their trade well. There may not be hubs in Italy, but there are some very good industry groups. All it takes is for these people to get together from time to time and decide on useful things for the country. In a way, it is like we have one.

You listed on the Stock exchange over 20 years ago. Is it still important to be on the list today?

I would say so. I still think the Stock market is a great place for structured and established companies to be. We were among the first in made-in-Italy luxury. I would say that it is an experience that has made us grow and above all has given us a rigor that before, although we were a structured and serious company, we had less. So, I do recommend it to many friends who then listed.

Chiara Ferragni is on his Board of Directors. What has she brought? Are there any other projects?

The news caused more of a stir than Chiara and I expected. In our group, we include young people among the board members every year. In this case, we wanted someone who could pass on to the younger generation everything we do for society. So, nothing commercial and a lot sustainable. Chiara pays attention to these things, and when she talks about our work she reaches out to young people.

We took a tour of your factories, where we witnessed the stages of processing. Today there is a lot of talk about artificial intelligence, however these products always need the human hand....

More than artificial intelligence we would need intelligence ... that would be enough for us (he jokes, ed.). For us, craftsmanship matters a lot and the complexity of what we do is good for us because then it is difficult to copy or replicate, especially from certain distant countries. In 2012, we founded the Bottega dei Mestieri as a training center for the Tod’s Group. So, I would say that everything we do today under the manual aspect translates into training. This school is precisely designed to teach high craftsmanship to young people through older people.

Over the years, you have built a training school for artisans. Statistics say there will be a shortage of over 300,000 in the next three years. What can the industry do?

The industry is trying to attract young people, and I primarily incite them to do this job. A good craftsman owns himself, his hands are his capital so he can afford to be a free man in the working world as well. This is something that many people are considering especially after the pandemic to have a better, more relaxed quality of life and be able to stay maybe in their home country.

What should the Government do?

Government should, in my opinion, incentivize young people to do this job through upgrading technical and industrial institutes that are already excellent. Industry and Government can work together, all the more so when they address a cause of general interest that affects young people.

What do you see in Tod’s future?

In the future I see the arrival of our children. I see a company that is coping well with the world situation. We have good resources, and we believe in what we do, in the sense that we want to be relevant exponents of Italian industry, producers of great quality, and that is the goal we pursue every day. You could approach other paths sometimes, ours is a bit more complicated but we pursue it because it brings important results.

We are in your father’s office, which is full of important memories. You are waiting for your children to arrive, so will the Della Valle generation continue?

Yes, our children want to be in this business. They are now doing their trainings around the world, but soon they will join the company. However, this is my father’s office, who actually did not want an office, we still decided to set up for him with my brother. Now, I think it would please my father very much to see our children working here.

How soon will they come?

It is decided by now. In a little while they will come home and start working. (All rights reserved)