2021, and especially the last quarter, for the Valentino fashion house have brought good results, allowing it to return to pre-pandemic levels.
The whole year saw a 41% increase in sales at constant exchange rates compared to 2020 at 1.231 million euros and 3% compared to 2019.
The maison, led by the CEO Jacopo Venturini flanked by the creative director Pierpaolo Piccioli, in the fourth quarter of 2021 it recorded a growth of 11% at constant exchange rates, while theRetail has seen a 29% expansion driven by strong growth in the full price, more than offsetting – as was the repositioning strategy – the contraction in the markdown.
Valentine: return to profit after the red of 2020
"The company has generated growing profits compared to 2019", says a note without specifying the data relating to net profit and EBIT, but suggesting a return to profit after the red for 90 million registered in 2020.
In particular, the month of December 2021 saw a historic record for the fashion house thanks to the implementation of the concierge service which allows customers, even digitally, to have an individual and very personal service.
The company highlights "the important performance of the Act, Les Progrès and the Party Collection capsules", says the note, while the "lto accessory component, which represents 66% of sales, followed by ready-to-wear with a share of 32% and other product categories for the remaining 2%”.
Valentino: development of the new retail strategy
Europe, North America and the Middle East were the markets that most saw an increase in sales, recording the highest growth rates in 2021 compared to 2020.
Venturini, who joined Valentino in June 2020, has focused mainly on fine-tuning the new retail strategy and the weight of the latter rose to 57% in 2021, up 2 percentage points from the previous year.
The focus of the forthcoming expansion of directly operated stores will be on new openings in Greater China and the Far East. Instead, wholesale sales decreased - as planned - going from 44% in 2020 to 41% in 2021 "with the aim of continuing to grow retail and work on wholesale with selected partners with whom we can also develop dedicated projects".
On the digital sales front, e-commerce recorded a double-digit increase compared to 2020, and in triple digits compared to 2019.
The business Valentino beauty and fragrances, licensed to L'Oréal since 2018, was up 97% in 2021 over 2020, doubling its full-year projections.
