Valentino predicts 2016 sales to top 1.1 billion euros
In an interview with the business magazine of the Italian daily newspaper, the Corriere della Sera, the head of Valentino, Stefano Sassi, announced that the luxury label would post nearly a 10% increase in sales for 2016, after its stellar 47% increase in 2015. “A consolidation figure that confirms the brand's drawing power,” said the CEO.
Such growth would mean Valentino sales will surpass 1.1 billion euros in 2016 compared to 987 million euros in 2015. In 2009, the company reported 200 million euros. That makes the recent growth all the more astounding, “even though in recent years, luxury is in a phase of re-examination,” said Sassi, “prompting brands to reevaluate their prices, follow aggressive marketing strategies and reorganize their retail, which has halted the expansion of sales channels."
“The planned focus in 2017 on Japan should further accelerate the brand upward,” he added. After opening a flagship store in the trendy area of Tokyo, Omotesando, Valentino is working on its opening in the chic Ginza district. “We also plan to promote the opening of the two stores in Tokyo through a special project,” he explained.
With the spring-summer 2017 season, the collections are now in the hands of creative director Pierpaolo Piccioli, following the departure of his alter ego, Maria Grazia Chiuri, who was tapped by Dior.
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