24 March 2022, Mumbai:
Valentino, the well-known Italian luxury fashion house, is reminiscing about the days before the epidemic.
The luxury house stated that it made a profit in 2021, albeit it couldn't disclose specific figures since its financial statement hadn't been authorized yet.
The fashion label generated €1.231 billion in 2021, a 39.5 percent increase year over year (Y-o-Y). Notably, the growth was 3 percent over 2019. Valentino's revenues increased by a healthy 11% year over year in the fourth quarter, with direct retail sales increasing by 29%.
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(DTC). Valentino attributes the positive results – particularly in the fourth quarter – to an increase in price sales as well as the strengthening of the design house's tailored concierge service (available online too).
Valentino is also benefiting from the fact that it is broadening its client base by targeting young people.
In Europe, North America, and the Middle East, the Italian fashion house had the fastest growth rates.
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Valentino's DTC's short-term goal, according to FashionNetwork.com, is to reach a 70% market share by 2024-2025.
Its direct-to-consumer (DTC) sales are said to account for 57% of overall sales.
Valentino presently has over 200 directly owned outlets in over 100 countries. It was established in 1960 and is recognised for its clothing, footwear, fragrances, and fashion accessories, among other things.
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CREDITS: Apparel Resources.
