Valentino, the well-known Italian luxury fashion label, is reliving its pre-pandemic days.
The luxury house has announced that it has turned profit again in 2021, though it couldn’t provide the numbers owing to its financial statement not approved as yet.
2021 saw the fashion label generate €1.231 billion at a year-on-year (Y-o-Y) jump of 39.5 per cent. Notably, the rise was 3 per cent over 2019.
In the fourth quarter, Valentino’s sales rose by a good 11 per cent Y-o-Y – rising by 29 per cent in the fashion label’s direct retail channel (DTC).
Valentino has attributed the good numbers – especially in the last part of the year – to increase in price sales as well as strengthening of fashion brand’s personalised concierge service (available online too).
Also, the fact that Valentino is widening its base of customers by attracting the youth has also helped.
Notably, the Italian fashion firm recorded the highest growth rates in Europe, North America and the Middle East.
Valentino told FashionNetwork.com that the short-term objective of its DTC is to attain a 70 per cent share by 2024-2025. Its DTC, reportedly, accounts for 57 per cent of total sales.
Valentino is now present in 100 countries via more than 200 directly owned stores. Founded in 1960, it is known for its apparels, footwear, perfumes and fashion accessories, amongst others.
