A shopping bag from the luxury brand Tod's is seen along Rodeo Drive in Beverly Hills, California, May 21, 2013. Luxury spending in the United States collapsed after the financial crisis of 2008 but it has been roaring back since 2010 and returned to its pre-crisis levels in 2012. Photo taken May 21, 2013. To match Insight LUXURY-US/ REUTERS/Fred Prouser (UNITED STATES - Tags: BUSINESS LOGO SOCIETY WEALTH)

MILAN (Reuters) - The chairman of luxury company Tod's TOD.MI Diego Della Valle denied speculation over the possible sale of the group, whose majority is owned by his family.

An Italian newspaper reported on Monday that Della Valle had started the reorganization of the family’s holding companies and that the move could pave the way to a future sale of the group.

The Della Valle family currently owns just over 60 percent of the Tod’s group, known for its Gommino shoes and leather accessories, through two separate holding companies.