Choosing Chiara
● With Chiara Ferragni, the Italian group is reaching out to a younger generation and pledges to continue to support solidarity projects.
Tod’s Group named Chiara Ferragni to its board — and the firm’s shares leaped 14 percent on the appointment.
MILAN — In its latest step to reach out to a younger generation, the Tod’s Group has appointed Chiara Ferragni as a member of its board of directors — and investors rewarded the news as shares by mid-afternoon on Friday had soared 12.12 percent to 32.20 euros, closing up 14 percent at 32.74 euros.
“Chiara’s knowledge of the world of young people will certainly be extremely valuable,” said Diego Della Valle, chairman of the group. “Together, we will try to build solidarity and support projects for those in need, raising awareness and involving the new generations more and more in these kind of operations.”
Ferragni partnered with Tod’s back in 2017, creating the #ChiaraLovesTods limited-edition capsule collection, promoting it on social media through a short video showing her visit the company’s headquarters in the Italian region of Marche. The capsule included a powder pink version of the Gommino bag and of the label’s signature Double T Gommino loafers.
“I thank Diego Della Valle for his trust and respect toward me as a woman and as a manager,” Ferragni said. “Joining the Tod’s Group means giving a voice to my generation through one of the excellences of Italy in the world.”
Ferragni is launching her first total-look collection under her namesake brand for fall 2021 and her first eyewear capsule, which is produced by Luxottica.
The Chiara Ferragni brand was launched in 2013 as a footwear label, and gradually introduced T-shirts and sweatshirts.
While she continues to build her social media following, Ferragni, who has 23.3 million Instagram followers, long ago distanced herself from the mere role of influencer, piling up modeling contracts and taking on the role in 2017 of president and chief executive officer of TBS, the company that manages her The Blonde Salad blog and activities. Ferragni is also the CEO and creative director of Serendipity, which manages her namesake line.
Tod’s, which has over the years contributed to several projects ranging from the restoration of the Colosseum to building a new manufacturing plant in Italy’s
Arquata del Tronto, hard hit by a deadly earthquake in August 2016, also pointed to further investing in social commitment and sustainability with Ferragni.
In addition to raising millions with her husband, musician Fedez, to fight the coronavirus, Ferragni has also been promoting tourism in Italy, posting her visits to the Uffizi Museum in Florence, for example, or touring Venice.
Tod’s board of directors comprises 15 members, including Della Valle’s brother Andrea, vice chairman; Diego’s son Emanuele; Umberto Macchi di Cellere, CEO of the Tod’s brand, and chief financial officer Emilio Macellari. In addition to the Tod’s brand, labels Roger Vivier, Hogan and Fay are under the group’s umbrella.
“We are sure that Chiara’s knowledge of the world of young people, combined with the experience of the members of the board of directors, can build a group of thought dedicated to solidarity, with a strong focus on the young generation, which now more than ever needs to be listened to,” the company stated.