While Valentino reported a slowdown in its 2023 revenues, CEO Jacopo Venturini said the company maintained its 'positioning and awareness.'
Citing a “challenging global context for the luxury industry,” the Rome-based couture house on Tuesday morning reported a 5 percent decrease in 2023 revenues to 1.35 billion euros, including impacts from changes in exchange rates. This compares with sales of 1.42 billion euros in 2022. At constant exchange rates, revenues last year were down 3 percent.said that “it’s important to note that despite this , we, as a company, maintained our positioning and awareness.
Earlier this month, Valentino opened a new London flagship on Sloane Street, which has four floors in a minimalist design using the brand’s signature red color and shades of ivory and black throughout. The London store takes cues from the unit at 645 Madison Avenue in New York, which debuted last November and has backlit black marble shelves and bespoke Plexiglas modules.
In the 12 months ended Dec. 31, earnings before interest, taxes, depreciation and amortization, including the IFRS16 impact, amounted to 314 million euros, a 7 percent decrease compared to 2022. Operating profit fell 18 percent to 99 million euros.
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