Luxury apparel and footwear business Tod's has acquired the high-end French shoes and accessories brand Roger Vivier, after years of the two companies being linked by a licensing agreement.

The purchase, for EUR415m (US$442m), will see Tod's take "full control over the long-term planning of strategies and activities concerning the trademark". It was bought from Gousson, owned by brothers Diego and Andrea Della Valle.

The move is seen as a way for Tod's to boost its earnings following a period of weakening earnings and sales. In its first-half, earnings fell 10.2%, while same-store sales in its latest third-quarter were down around 5% as a result of lower demand from the US and China.

In a statement, the company said of the acquisition: "By carrying out the transaction, Tod's intends to definitively ensure the group fully owns the trademark, thus removing the uncertainties connected to any licence agreement. From a financial point of view, the capital increase is aimed to reduce the effects of the purchase on the group's financial position."

Under the terms of the deal, Gousson will reinvest EUR207.5m in Tod's through a dedicated capital increase at EUR83.5 per share, a 5.6% premium to Friday's (20 November) closing price.

Following the capital increase, Gousson will hold 7.51% of Tod's share capital, whilst all shareholders other than Diego Della Valle will be diluted of 7.51%. Given that Gousson is controlled by Diego Della Valle, the aggregate interest in Tod's directly and indirectly held by Diego Della Valle will increase from 57.47% to 60.66%.