Valentino to invest 250 million euro in larger flagship stores and expand accessories lines
The board of the Italian luxury house of Valentino, owned by Mayhoola (an entity indirectly controlled by Shaikha Mozah, First Lady of Qatar) approved the strategic development plan for the next years. 250 million euros will be allocated to double retail presence worldwide, within the next 4 to 5 years, mostly with directly operated stores, of larger size and greater visibility. Valentino will also enlarge its accessories line, especially bags and shoes. From the existing 80 Valentino mono-brand stores worldwide, 20 have been renovated and redesigned under the new interior concept, the aim being to renovate all within the next year.
Valentino reported a turnover of 400 million euros in 2012, a 21% increase on 2011, and an operating profit of 32 million euros, a 43,3% increase compared to 2011. In the first quarter of 2013, Valentino sales increased by 23%.