VALENTINO completes restructuring, returns to profit and proceeds with investments
The flagship brand of Valentino Fashion Group directly owned by investment fund Permira, VALENTINO seems to have emerged from the crisis and posts 18,3% increase in sales in 2010, compared to 2009, reaching a total volume of 273,4 million euros. The delegated CEO, Stefano Sassi who took over in 2009 also announced the brand is now clear of any debt and will exeed in 2011 the sales volume of 300 million euros. The younger pret a porter line Valentino Red which represents 15 to 20% of total sales, will see more dedicated retail locations, while communication for the line will focus mostly on the internet. As for product categories, accessories have seen a 70% increase in 2010 compared to 2009. A new, larger, concept of the flagship store will be launched in Milan by mid 2012.