Valentino’s revenue growth slows in 2018
today Apr 17, 2019
The Italian luxury label closed 2018 with a revenue of approximately €1.2 billion, growing at a slower rate than before. All of Valentino’s markets are thriving in early 2019, except for Macao and Hong Kong.
Italian luxury label Valentino closed the 2018 financial year with a revenue of approximately €1.2 billion, though it grew at a slower rate than in the recent past.
The news came from Valentino’s CEO Stefano Sassi, speaking at a forum organised by Altagamma, the association of Italian luxury brands. He also emphasised that the label still has “ambitious growth plans.”
Sassi, who has been in charge of Valentino for 13 years and worked with three different majority shareholders, to all intents and purposes declined to answer the question whether the label, now controlled by Qatari investment fund Mayhoola, may be sold.
“I have no idea, these are decisions that are taken by the shareholders,” he said.
Valentino had closed the 2017 financial year with sales worth €1.16 billion, up 7% at constant exchange rates.
As for the first three months of 2019, Sassi indicated that all of Valentino’s markets are thriving except for Macao and Hong Kong, though a higher purchase volume by mainland China consumers is compensating for this.
© Thomson Reuters 2019 All rights reserved.