Despite intensifying rumours Qatar’s Mayhoola has been looking to sell the Italian luxury fashion house, Valentino has announced it is heading for Beijing, where it will open a new flagship store on November 6. The inauguration will be followed by a repeat haute couture show
Valentino’s new Beijing flagship store in Beijing at the fashionable quarters of Sanlitun extends over a little more than 400 m2 on two levels, and its interiors were jointly designed by Piccioli and British architect David Chipperfield.
It adds to the two other Valentino boutiques in the Chinese capital, making it a total of 29 stores operated by the luxury label in Greater China. China is indeed a strategic market for Valentino, which opened its first store there in 2007. But even more than China itself, it is Chinese consumers, anywhere in the world, who have become key for the luxury label, since they account for nearly 30% of its total sales.
This isn’t the first show organised by Valentino in China. In 2013, it held a similar event in Shanghai, staging a show blending ready-to-wear and haute couture, to mark the inauguration of its flagship store in the city.
For 2018, Valentino reported a revenue of €1.2 billion, up 3% over 2017, when the label’s revenue growth was 5%.
Valentino Fall Winter 2019 ad campaign
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