Fashion Icon Diego Della Valle Doubles-Down On Saks (SKS)

In an amended 13D filing on Saks (NYSE: SKS), Diego Della Valle, the Chairman and CEO of Italian luxury leather goods maker Tod's, disclosed he raised his stake in the upscale U.S. retailer to 15,000,000 shares, or 9.4% of the total outstanding shares.

During the period from March 11 to March 16, 2010, Diego Della Valle acquired an additional 3,620,000 shares. These purchases follow the purchase of 2,900,000 shares from March 8 to March 10, 2010.

Diego Della Valle originally filed his 13D, indicating a 5% or more stake, back in May of 2009.

Diego Della Valle has paid on average of about $5.50 per share for his 15 million shares. Shares of Saks currently trade at $8.50 per share, representing gains of about 55%.

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