Valentino’s sales decreased slightly in the 2024 financial year.
The Italian fashion house Valentino Spa generated sales of 1.31 billion euros in 2024. In the previous year comparison, this corresponds to a currency -adjusted decline of two percent and three percent in current exchange rates, Valentino said on Friday. In 2023, sales were 1.35 billion euros.
“We made significant progress in 2024 and pursued the promise of our house to enchant, surprise and inspire our customers alike, in accordance with the brand values since its foundation-from incomparable attention to detail and even striving for Excellence,” said Valentino CEO Jacopo Venturini. “With the entry of Alessandro Michele as a new creative director, our work has taken a crucial step forward.”
The result adjusted for special effects before interest, taxes and depreciation (EBITDA) was 246 million euros, which corresponds to a decrease of 22 percent compared to 2023. This attributes the company to once effects, among other things.
Direct die grows by five percent
Direct sales, including their own stores and e-commerce, grew by five percent compared to 2023 and made up 70 percent of total sales. This is in accordance with the company’s retail-oriented vision and the aim of strengthening direct market presence. “This strategy is also reflected in the endeavor to re -balance the weight of the wholesale channel in favor of a more selective distribution with strategic partners,” explains the management in a message. Wholesale sales decreased by 20 percent in 2024 in the previous year.
Valentino continues to invest in its own branch network, which underlines the importance that they have for the customer relationship, “guided by the values uniqueness, savoir fairly and customer orientation,” the message says. E-commerce achieved a 15 percent share of direct sales compared to 11 percent in 2023 (+37 % for constant exchange rates). The beauty and fragrance business, which is licensed to L’Oréal, also developed positively and recorded growth of 51 percent compared to 2023 in 2024.
Divided by regions, Japan and the Middle East as well as North and South America achieved good results, while Europe and Asia were faced with difficult conditions, especially in the second half of 2024.
This article was used with digital tools translated.
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