Valentino expects full year 2016 revenue at 1,1 billion euros, up 10%
After the first collection designed solely by Pierpaolo Piccioli following the departure of co-designer Maria Grazia Chiuri, Valentino CEO Stefano Sassi told Italian media he was more cautious in his optimism regarding the forecasts for the fiscal year 2016, “we will close surpassing the one billion euro in revenues, up 10%.”
He also spoke of “a percentage of consolidation”, after an increase of turnover of 47% in 2015, which was close to EUR 987 million.
The turnover, therefore, will amount to 1.1 billion euro, with a provision in 2017 for more investment in markets that have shown a good receptivity such as Japan, where Valentino has recently launched a new flagship store in Omotesando. “Now – says Sassi – we are working on to Ginza and we aim to optimize the opening of the two stores in Tokyo with a special project.”
Our accessories business now represents a percentage of sales equal, if not superior, to that of the ready-to-wear. Our shoes are firmly among the five best-selling brands in the big department stores. ”