The Italian fashion house Valentino recovered well from the consequences of the Covid-19 pandemic in the 2021 financial year. In an interview published on Monday with the economic supplement of the daily newspaper Corriere della Sera, CEO Jacopo Venturini explained that sales had reached a level of around 1.23 billion euros and had thus increased by 41 percent compared to the previous year after currency adjustments. Thanks to the strong growth, currency-adjusted sales would have exceeded the level of the pre-crisis year 2019 by three percent, according to Venturini.
According to the company boss, the expansion of the online business played an important role in the recent upswing: its share of total sales has increased from five percent in 2019 to 16 percent, Venturini explained to Corriere della Sera. The fashion house now wants to further strengthen this distribution channel: over the course of the year, the company will gradually take over its global e-commerce activities on its own, according to Venturini.
At the same time, Valentino also wants to expand stationary: the CEO announced the opening of 21 new boutiques for 2022. The aim is to increase the share of sales from own retail, which was 57 percent in 2021, to 70 percent within the next three to five years, explained Venturini.
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