Valentino Italian couture house posts healthy growth

Valentino Italian couture house that suffered badly from the pandemic in 2021, made a rebound in 2022 as its sales rose to €1.42 billion ($1.58 billion) for the 12 months through December 31, posting a 10 percent increase in constant exchange rates.

It also reported EBITDA of €337 million in 2022, up 18 percent over the prior year.

Sales through its own stores and e-commerce jumped 21 percent in the period, while wholesale declined 6 percent as it continued to rebalance its channel mix. The company said its experiment of pushing direct sales paid off as it pulled back on wholesale. Directly operated retail of Valentino now accounts for 62 percent of sales, compared to 54 percent in 2019.



It rebound was spearheaded by Europe, North America and the Middle East where direct sales boomed.

However its performance in Greater China was still subdued due to Covid, according to the press release of the company.

Valentino S.p.A. is an Italian luxury fashion house founded in 1960 by Valentino Garavani and part of Valentino Fashion Group. Rachid is currently the Founder of Alsara Investment Group, the Chairman of Valentino and the Chairman of Balmain; two of the leading luxury fashion companies in the world. Rachid is also the Founder of Bidayat, an international investment company, which supports creative entrepreneurship in the Mediterranean region.