Valentino continues its run on 2018even if they rhythm slows down in comparison to previous years. On the other hand, the business closed its first quarter of 2019in the green. According to what anticipated by the brand’s ceo, Stefano Sassi in occasion of the Altagamma Consumer and Retail Insightconvention, the brand last year “grew more. Not as much as the previous years, but we still reached the 1.2 billion euromark”. Looking at the data all together, the revenue increase should be of about +3%. “With regards to the first few months of the year – added Sassi -, Valentino’s reference markets are all positive, with the exception of Macaoand Hong Kong, due to the lower influx of high-spending Chinese customers in these two cities”, although it is counterbalanced by the sales increase in China. The manager explained that, with regards to the general luxury industry, “the digital revolutionhas elevated the rumor level and communication needed to explode because there no longer is intermediation with the final consumer. This forces the brand to have a more precise viewpoint”. In this sense, the tool called collaboration is useful to make the brand more current, even though, adds Mr. Sassi, “there is always a risk of devaluing the brand, but that is exactly the moment where the creative side that joins the two souls gets to work. Because final consumers must see the couture aspect even in a different product”. The large changes of the luxury segment will continue to have an effect on the world of formalwear and its declination toward casualwear. “This is a phenomenon that will continue”, explains Sassi, reminding us of when “they had decided to focus on elegance for the men segment, the results were not encouraging”. “Today – concludes the ceo – formalwear weighs about 4% of revenue, accessories are worth 50% and the rest is tied to fashion and casualwear”.
Image from Imagoeconomica