MILAN — In a first major step following the delisting of Tod’s Group in June, the Italian luxury company has named John Galantic chief executive officer.
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Diego Della Valle, who held this role before, continues to be chairman of the group, and his brother Andrea remains vice chairman.
“His proven experience in the luxury sector with a specific focus on brand building will help Tod’s Group to increase its growth potential globally,” the company said on Thursday.
Galantic was previously president and chief operating officer of Chanel Inc., exiting the company at the end of June last year.
He had joined Chanel in 2006 and over the years there he spearheaded the development of the company’s digital capabilities — an area of development the Della Valles are eager to further build. He increased Chanel ’s owned distribution, and contributed to drive sustainability and social commitment through initiatives such as Sunrun, the launch of Chanel Community and the Racial Justice Fund. He was charged with leading the strategic and operational activity for Chanel in the U.S., responsible for fashion, accessories, watches, fine jewelry, beauty and fragrance, as well as wholesale distribution and freestanding retail. During his tenure, Galantic was involved in transforming its wholesale business into a concession model.
Prior to joining Chanel, Galantic was president of Coty Beauty U.S. Earlier, the Harvard Business School graduate held senior posts at SmithKline Beecham and the Procter & Gamble Co.
Now based in Milan, Galantic is joining the board of Tod’s, which in addition to the Della Valles includes Tony Belloni, James Michael Chu, Luca Cordero di Montezemolo, Domenico De Sole, Romina Guglielmetti, Nikhil Kumar Thukral, Emilio Macellari and Vincenzo Manes.
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He is also a board member of Ferrari SpA and Bacardi Ltd.
Tod’s succeeded to delist after a failed attempt in 2022. In May, the Italian luxury group reported that the offer of Tod’s shares promoted by Crown Bidco Srl, an L Catterton affiliate backed by LVMH Moët Hennessy Louis Vuitton, had reached an aggregate stake greater than 90 percent of the share capital, the threshold necessary for the company’s delisting.
Diego Della Valle said then that the delisting through the 1.4 billion euro deal came at the right time. “We made this choice to develop the full potential of our individual brands, making all the necessary investments in a timeline we deem most suitable. We have a great growth opportunity and we will try to seize it, operating with a long-term horizon.”
The Tod’s Group controls the Tod’s brand as well as Roger Vivier , Hogan and Fay, and Della Valle has long expressed his belief that the company was undervalued by the stock market and that he wanted to have more flexibility and freedom to further develop each brand without the quarterly scrutiny of investors.
Partnering with L Catterton and LVMH, with which Tod’s shared its entry on the Bourse more than 20 years ago, will also help the company to be more competitive, given the increasing concentration of major luxury groups, analysts observed.
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