ITALY: Rebounding Valentino “not for sale”
Valentino chief executive Stefano Sassi has dismissed rumours that the private equity-owned fashion label is for sale, instead outlining plans for its continued recovery.
Speaking at the Reuters Global Luxury Summit, Sassi said the company’s owners, Permira and the Marzotto family, were focused on building up the company before any possible sell-off.
An expansion of Valentino’s entry-level apparel offer and of its Red label will be key to increasing sales to EUR400m (US$488m) within four years, compared to EUR240m in 2009.
Sassi told Reuters that he expected sales to rise about 10% during 2010, thanks to strong wholesale orders from the US and growth in Asia and the Middle East.
Valentino is poised to open an additional eight stores this year – five in China, one in Europe, one in the US and one in Japan.
The CEO of Italian fashion brand Valentino has indicated that the company has continued to recover from the impact of the global financial crisis....
- Will Vietnam struggle with impending trade deals?
- The new age of disruption on apparel production
- Yuan devaluation impact mixed for garment firms
- Kurt Cavano on “the Uberfication of everything”
- China devaluation: what’s the big deal?
- US Q2 in brief: J Crew, Aeropostale, Bebe Stores
- Luen Thai to continue investment in Vietnam
- Adidas seeking to resolve shoe supplier dispute
- Adidas files trademark suit against Forever 21
- H&M offers $1m grant for sustainable innovations
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Ethiopia – the emerging textile and clothing industry
- Global market review of lingerie - forecasts to 2020
- Global market review of swimwear - forecasts to 2019