Despite the impact of the social unrest and protests in Hong Kong last year, Valentino SpA reported a 2.4 percent increase in revenues in 2019. In the 12 months ended Dec. 31, sales rose to 1.22 billion euros, compared with 1.19 billion euros in 2018.
Valentino boasts a retail network of 212 stores globally and has recorded a positive trend in all the markets in which it operates, albeit with flat performance in Europe and North America.
In the fiscal year, the strong sales boost was the e-commerce channel, which in the period recorded a surge of 56%, thanks to the investments made in the shopping experience, in the name of an omni-channel approach. In the brick and mortar segment, the most important store openings of 2019 were the debut in Canada, with a Toronto store within the Yorkdale Shopping Center, and the opening in Beijing, in the Taikoo Li commercial district
China accounts for 30% of Valentino’s turnover with a number of 29 mono-brand stores. These latest reported figures do not take into account the impact of the coronavirus.
The fashion house has not yet disclosed earnings data, as the board meeting scheduled for March has been postponed due to the lockdown and will probably be held next May. Marco Giacometti (ex Fendi) is expected to join Valentino in a matter of days, called by the CEO Stefano Sassi to reinforce the team with the title of chief commercial officer. The appointment follows that of Alessio Vannetti as chief brand officer, effective from March 1.
As for the rumours about the arrival of Jacopo Venturini, ex Gucci, for a senior position in the management of the company, no formal announcements have been made as yet. During this period of severe crisis for the market, overwhelmed by the coronavirus tsunami, parent company Mayhoola made its presence felt with important solidarity actions: the group – which also controls Balmain and Pal Zileri – in fact donated one million euros to the Intensive Care Unit of the Sacco Hospital in Milan and another million to the Italian Civil Protection.
Last week, Mayhoola announced another donation of 1 million euros for Spain for expansion of the field hospital Hospital Covid-19 Ifema. Today, Balmain announced it will donate 1 million euros to the Fhp-Hf, led by the première dame Brigitte Macron, to support the Montfermeil and Delafontaine hospitals.
Valentino first store in Canada, in Toronto at Yorkdale Shopping Centre
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