Valentino Is Now An One-Billion Dollar Brand; The Italian Luxury House Tops $1B In Sales
Italian luxury house Valentino SpA, owned by Mayhoola for Investments Spc has reached its goals of bringing in annual sales of $1 billion, a milestone aimed to cross by the end of 2017.
The brand hit $1.09 billion in revenue, a 48% jump from the prior year,
Valentino CEO Stefano Sassi told WWD that the brand’s steady success owes to the work of creative directors Maria Grazia Chiuri and Pierpaolo Piccioli, as well as customers’ interest in its accessories and menswear. “The one-billion figure is symbolic,” he said in an interview. “We have arrived at a dimension and critical mass that the brand did not have, with significant cash and profitability.”
As far as Valentino nearing an IPO, that’s just a rumor and has no truth to it. The brand is focusing on expansion for 2016, including adding 20 to 30 store locations and relocations in London, Miami, Honolulu, as well as Germany, Japan, Korea and the Middle East.
All images in this post are from Valentino’s Spring 2016 Couture.
Photos Credit: Yannis Vlamos/Indigitalimages.com