Everyone wants to be in my shoes

HE owns a silver helicopter, a red Ferrari and a yacht that once belonged to President Kennedy. He lives in a former monastery in Italy that has 11 bedrooms and 18 his 'n' hers bathrooms. He has three other homes in Milan, Capri and Cortina.

But Diego Della Valle, immaculately dressed and sleek in that typical manner and style of the rich, older Italian man, looks me in the eye and says: 'I like a simple life.' There is absolutely no trace of irony.

The British public will soon get to hear more about the 49-year-old Italian and his love of the simple life. His company, Tod's, is the feisty young

The father peddled sandals to pretty girls. The son sells them to stars. He has luxury homes, a helicopter and a Ferrari . . . and he calls that the simple life upstart to the established luxury goods names of Gucci, Armani, Versace, LVMH, Prada and the rest.

Tod's iconic product for women --kid-soft loafers with 133 rubber studs on each sole - are Della Valle's big idea, inspired by a classic racing drivers' shoe designed in the 1950s. Shoes are now the main source of the family fortune.

But these shoes are not just for walking. According to Della Valle, they carry the message that the wearer 'wants comfort and utility without compromising style and craftsmanship'.

The same kind of philosophy is behind Tod's other products, such as bags, its younger-styled Hogan accessories and its sporty Fay brand clothing.

Della Valle makes it abundantly clear that he is selling a lifestyle, not mere consumer goods.

'Our customers are discerning people who appreciate not just the quality of our products, but also that the ultimate luxury lies in their utility and comfort, so that our bags and shoes become almost indispensable to those who enjoy using them,' he says.

And Della Valle is obviously doing something right. While some of its big rivals are suffering from the global slowdown, Tod's sales in the first half rose to about £120 million.

It has captured a fast-growing customer base of wealthy men and women aged between 25 and 55 as well as their children - most notably in Italy.

But now the rest of Europe and the Far East are also falling for Tod's charms. An awe-inspiring 27,500 sqare feet shop and offices complex seven storeys high is due to open in Tokyo next March.

Della Valle waves away suggestions that he is poised to make a huge leap via a merger with another Italian dynasty in luxury goods. However, an agreed marriage with France's family-controlled Hermes - a role model - is said to be on his radar screen.

But whether Della Valle is a potential predator or a prey depends on the strength of Tod's shares, of which his family owns 64%. Dilution of the family's control or taking on debt are not options for Della Valle. 'We are a company that is travelling light, with virtually no debt and a fresh, young brand,' he argues.

Della Valle drives the business hard, flanked by younger brother Andrea and two cousins. His son from his first marriage, Emanuele, 28, takes care of marketing.

The Della Valle family has lived in the provincial rural region of Marche amid the mountains and about 60 miles from Rome all their lives. He shares the former monastery with his second wife, architect Barbara Pistilli, Emanuele and five-year-old son Filippo.

Papa Dorino, a sprightly septuagenarian in jeans, founded the original Della Valle shoemakers in the 1940s. He can still be found at Tod's. 'My father made sandals and sold them dangling from his bike to pretty girls on Sundays,' says his son with obvious affection.

Della Valle confesses to a low boredom threshold and says he is 'bored with the same luxury stores, stocked with identical merchandise in every city'. His answer is to differentiate each store by stocking them individually with exclusive limited production merchandise.

He says: 'That means international consumers can never be sure of finding the same stuff in each of our stores. If they see a version of a product they love in New York, it will not necessarily be available in Paris.'

Tod's appeal is to devotees of new luxury, who want eclectic, original, one-off accessories. Tod's shoes are priced at anything from £150 to £450 plus if they are made with precious skins such as crocodile, but they are must-haves among the style elite.

The late Diana, Princess of Wales, was seen sporting Tod's tan leather D-Bag, costing £600.

Tod's cleverly concentrates its advertising in the glossy print media and its products are often seen in films.

For example, in the romantic comedy Two Weeks Notice, Sandra Bullock seems to be welded to the latest Tod's bag. Demi Moore is also known as a big fan.

After our interview, a light lunch is served, everything in it produced on Della Valle's estate. 'I hope you like our food,' he says without disguising his delight at the sight of assorted salamis and cheeses put before us.

The next course is a pasta in fresh tomato sauce, topped off with basil leaves from his garden. Then come slivers of filet of beef around a garland of tender artichokes in the house olive oil.

Finally, an apple tart, paper-thin and cooked that morning by Ms Pistilli - before she departed on a business trip.

These people have a certain style.