Up To € 2 Billion In 4 Years: Valentino's Success

Up To € 2 Billion In 4 Years: Valentino's Success
Up To € 2 Billion In 4 Years: Valentino's Success

Video: Up To € 2 Billion In 4 Years: Valentino's Success

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- While many companies are talking about a decrease in sales in the Asian region, Europe and, in particular, Russia, Valentino does not seem to be one that can complain about a significant decrease in demand for its clothes and accessories. How do you run this over € 2 billion empire?

- Valentino is like a big family. When I started managing the company, it was worth € 1 billion, the whole team was the same as a whole. We still continue to grow together, and are extremely ambitious in terms of ideas for the further growth of the company. Of course, to keep this level, we have to work a lot, literally like crazy.

- Are there any specific goals for further growth, for example, in the next year or five years?

- On the one hand, there are, of course, plans to increase profits or brand awareness in various markets, on the other hand, it is better to think not about how to climb to the top by any means, but rather, how, going upstairs, keep health and not die. Markets and buyers are constantly changing, and in this case it seems to me very important to always think about the creative component, how to stay on the crest of the wave, how to keep the interest of this very buyer, how to predict changes in his behavior and the essence of consumption.

- You mentioned that relations in the Valentino team are more like a family. Does it interfere with work? How, then, is your work with a management company structured, which may not share the "family" values?

- Our company belongs to the royal family of Qatar, as you can see - and from this side the family. And they are smart enough investors, focused on long-term work, therefore we have a productive dialogue between the management and the investor, we constantly exchange ideas, points of view on the development of companies, they understand what a fashion business is, how it all works.

- Valentino has been known for over half a century as a kind of personification of "Italian glamor". Now it is a company with an extremely fashionable image, very visible, vibrant, cosmopolitan in terms of design. Do you think that with this change in your style, you could lose old, proven clients for decades?

- Not. But it seems to me that for the development of the brand it was extremely important to turn to modernity, which you are talking about, as this is required by the current buyer. We are now seeing the logical evolution of a brand that has been known for its consistency in the past. And everyone here, especially the creative directors, did a truly amazing job, while preserving the core values ​​of the company, translating them into modern language, in fact doing what, in my opinion, the brand has been lacking for a long time.

- It's no secret that in recent years the brand's image has been strongly associated with the personality of its two creative directors - Pierpaolo Piccioli and Maria Grazia Chiuri. How did it feel when Maria Grazia announced to you earlier this year that she was leaving the team to work at Dior?

- You could worry a lot about this, but life turned out to be like that. I think this is a normal evolution for both the company and their personal, friendships and professional relationships, as they have worked together for the past 26 years. And the first collection of Pierpaolo proved that he is capable of making very strong collections on his own, directing the design team in the right direction.

- Aren't you in the least worried that the press will suddenly start writing that the “new” Valentino is losing to the “old”?

- I have known Pieropaolo for a long time and well, the way he works: clearly, very concentrated and kindly relaxed, calm. You can literally always see his self-confidence and the outlook on things that he offers. Knowing all this, I was calm enough in the current situation.

Photo: Valentino press service
Photo: Valentino press service

© Valentino press service

- Is keeping the Valentino name in the Haute Couture Weeks schedule more of an image step for the brand, or does the haute couture collections really bring significant income?

- Haute couture cannot be big business for any brand. Of course, this direction is not unprofitable, but to a greater extent it is needed in order to maintain contact with the market of the highest level, as well as an opportunity to talk about the level of skill of the atelier, the imagination of the designer, to declare the high positioning of Valentino.

- How is the business divided into categories now?

- If we don't take into account the high fashion collections, then men's collections account for about 15%, although three years ago the income from them was measured in single digits. Accessories are the main part of the business, about 45-50%. 30-35% comes from women's clothing.

- How are things in Russia?

- We started working with Mercury first as part of a corner at TSUM, and then decided to sign an exclusive contract. We now have four stores, including the flagship one in Metropol near Tretyakovsky proezd. And despite all the crises, Valentino in Russia feels just super great. Here, over the past three years, the company's business has grown threefold.>

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