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Valentino touches the billion dollar mark in annual sales

By Prachi Singh

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Business |REPORT

Italian fashion house Valentino has managed to touch the magic figure of one billion dollars in annual sales, almost a couple of years before the company expectations. Valentino’s revenue increased 48 percent over the previous year to 987 million euros (1,027 million dollars).

In 2012, after Qatari-based Mayhoola gained control over the company, Valentino had announced its goal of achieving one billion euros in five years from 370 million euros then. However, as far as the initial public offering (IPO) is concerned, the company has differed its plans for the moment and may consider it only next year.

Earnings rise, eyes positive growth ahead

EBITDA for the year grew 180.2 million euros (195.7 million dollars) from 98.5 million euros (106.9 million dollars) reported in 2014. Operating profit was 104.4 million euros (113.3 million dollars) compared with 43 million euros (46.7 million dollars).

The company witnessed a 20 percent rise in like-for-like sales on the back of 30 new stores added during the year under review. Valentino operates 160 units in total. While retail accounted for 55 percent of revenues, accessories accounted for 50 percent. This year, the company aims to open around 30 new stores, including relocations, looking forward to a double-digit growth in 2016.

Retail expansion plans include new store launches in London’s Bond Street, Germany; Miami and Honolulu; Tokyo’s Omotesando in Japan; Korea, and in the Middle East.

Valentino