The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Rome-based Valentino flagged “early positive results” starting from the fourth quarter last year as the brand registered its final figures for 2020 with Italian authorities.
Sales fell 27 percent to €882 million ($1.1 billion) last year as Valentino was “strongly penalised” by the coronavirus crisis, the company said. Earnings swung to a net loss of €127 million, compared to a €33 million profit in 2019.
Under chief executive Jacopo Venturini, who joined from Gucci last June, the brand is currently trying to reinvigorate sales, leaning on hit items like its “rockstud” line as well as phasing out the wholesale-driven “Red” sub-brand.
The Rome-based couture house’s bet on Rome’s most bankable design talent could help it punch above its weight.
The duo behind Skims are taking a minority stake in the luxury cashmere label, with an eye on scaling the cult brand.
After headline pieces — sometimes formerly owned by celebrities or featured on TV — sell for blockbuster prices, they can end up pretty much anywhere, from museums to collectors’ closets.
Serre, who grew sales by 20 percent in 2023, has been named Pitti Uomo’s next guest designer. She’s using the opportunity to show her men’s collection for the first time.