MILAN, Oct 21 (Reuters) - Italian luxury group Tod's,

which was delisted earlier this year, does not rule out a return

to the stock exchange in the future, its Chairman Diego Della

Valle said on Monday.

Della Valle, who founded the company and previously also

served as CEO, was replaced last month in that role by former

Chanel executive John Galantic.

Speaking at a fashion industry conference in Milan, Della

Valle said he is not ready to step aside but is willing to

delegate more and more to managers and members of his family, if

"they deserve it".

Tod's left the Milan bourse in June after private equity

firm L Catterton lunched a buyout offer and took it private, in

agreement with the Della Valle family.