Luxury fashion retailer Valentino boosted sales by 12.4 per cent last year, reaching €1.11 billion.
Following a stunning 47 per cent growth in Valentino sales the previous year, the company has trebled its turnover in the four years since Qatari royal family acquired the business in 2012.
A major factor in last year’s growth was the expansion into Japan, where it opened a new flagship in Tokyo’s Omotesando district. Two more stores are planned for the city, the first in Ginza and another in a location yet to be disclosed, but possibly Roppongi.
The US continues to be the brand’s largest market accounting for about 20 per cent of sales.
Valentino currently operates 175 of its own stores internationally, with retail sales accounting for 55 per cent of sales and the balance wholesaling. The company is on track to open 20 more physical stores this year, along with boosting its online presence and sales through both its own website and those of multibrand retailers.
Profit for last year was €206 million, up 14.4 per cent on 2015.
While privately owned Valentino sales and profit results are released due to a mid-term intention to launch an IPO. GM Stefano Sassi said in a press statement there was no decision at this time on timing for the float.
“There is nothing planned for 2017, and the project will be re-evaluated based on the most favourable market conditions.”