×
67 790
Fashion Jobs
MACY'S
Manager, Omni Operations
Permanent · Savannah
MACY'S
Manager, Omni Operations
Permanent · Hoover
MACY'S
Manager, Merchandise Execution
Permanent · Niles
MACY'S
Manager, Omni Operations - Lakeline Mall
Permanent · Cedar Park
MACY'S
Asset Protection Security Guard, Dallas Galleria - Part Time
Permanent · Dallas
MACY'S
Manager, Merchandise Execution
Permanent · Merritt Island
OLD NAVY
Assistant General Manager - Sugarloaf Mills
Permanent · Lawrenceville
OLD NAVY
Assistant Manager, Customer Operations - Sugarloaf Mills
Permanent · Lawrenceville
OLD NAVY
Assistant General Manager, Customer Operations - Christiana Towne Ctr
Permanent · Christiana
OLD NAVY
Assistant Manager, Customer Operations - Summit Woods Cross
Permanent · Lee's Summit
MACY'S
Manager, Omni Operations
Permanent · New York
ROSS STORES
Store Protection Specialist
Permanent · Tucson
ROSS STORES
Store Protection Specialist
Permanent · Houston
ROSS STORES
Store Protection Specialist
Permanent · Orlando
ROSS STORES
Store Protection Specialist
Permanent · The Woodlands
L BRANDS
Manager, Operations Planning
Permanent · Reynoldsburg
L BRANDS
Art Director - Digital
Permanent · Reynoldsburg
BLOOMINGDALE'S
Outlet Keyholder Selling, Full Time - Merrimack
Permanent · Merrimack
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Soho
Permanent · New York
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Chestnut Hill
Permanent · Newton
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time - Dolphin Mall
Permanent · Miami
OLD NAVY
Assistant Manager, Customer Operations - Butler Plaza West
Permanent · Gainesville
By
Reuters
Published
Jun 1, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Valentino sees signs of market recovery

By
Reuters
Published
Jun 1, 2009

MILAN (Reuters Life!) - Fashion group Valentino said it expects 2009 to be a tough year in luxury retail but has seen resilience in quality labels such as Marlboro and Hugo Boss.

Chief Executive Officer Stefano Sassi told Corriere della Sera newspaper that the luxury firm has seen a recovery in trade since the middle of April.

"In the first quarter we lost a bit in terms of turnover and profitability, but from the middle of April, we are seeing a recovery," he said in an interview published in the newspaper's CorriereEconomia business section on Monday 1 June.

This year "will be more difficult" than 2008, he added. The design house, which includes Valentino and Hugo Boss labels as well as the license for Marlboro clothing, will focus on controlling costs.

"This crisis has mostly hit luxury, while a line like Marlboro for example is holding at last year's levels and even Hugo Boss is standing its ground," Sassi said.

"But April and May are giving very encouraging signals for Valentino as well," he added.

Valentino Fashion Group, which is controlled by private equity group Permira, increased turnover 3 percent in 2008 to 2.2 billion euros ($3.08 billion) while core profit slipped to 320.4 million euros from 330.3 million euros.

Valentino's founder, Valentino Garavani, retired in January 2008 after heading the house for nearly half a century and making its trademark red evening gowns regulars on the red carpets at the Oscars, Cannes film festival and elsewhere.

His successor, Alessandra Facchinetti, lasted less than a year before leaving "embittered." She was replaced by in-house team Maria Grazia Chiuri and Pier Paolo Piccioli.

Sassi said Valentino had already sold 30 percent of its pre-collections for autumn/winter 2009 -- "a really, really good result considering ... we are selling the collection at full price."

(Reporting by Jo Winterbottom, editing by Paul Casciato)

($1=.7146 Euro)

© Thomson Reuters 2022 All rights reserved.