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Valentino anticipates 10 percent revenue growth in 2016

By Prachi Singh

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Business

On the back of retail expansion plans in Japan, luxury label Valentino is looking forward to a 10 percent jump in 2016 revenues to surpass 1.1 billion euros (1.2 billion dollars). The company witnessed its revenues rise by 48 percent percent in 2015; from 880.4 million dollars in 2014 to 1.09 billion dollars last year.

In 2011, Valentino was acquired by Mayhoola for 730 million dollars. When Mayhoola for Investments acquired the brand, it had set a target of hitting one billion mark in five years and the label has posted growth every year, from sales 640 million dollars in 2012 to over one billion dollars last year.

After opening door to its flagship store in Tokyo, Omotesando, Valentino is eyeing to expand footprint of the brand by opening another store in the Ginza district. The company’s growth momentum was backed by its 275 million dollars to 330 million dollars investment into building the retail store network, while focusing its wholesale network to sell Valentino products at high-end boutique stores.

After Maria Grazia Chiruri’s exit as the co-creative director, Valentino’s collections are now solely managed by its creative director Pierpaolo Piccioli.

Image: Valentino

Valentino