Italian fashion label Valentino is planning a new expansion phase, including a large number of new stores in Europe and Asia. An exact prediction of how many new stores would open, has not been made public.
Oil dollars boost fashion business
Last summer, Qatar's royal family bought Valentino from private equity firm Permira for 700 million euro through their investment group Mayhoola.
The company generates forty percent of its turnover in China, where - so far - the economic slowdown in the country has not yet affected the sales. “People in China want exclusivity, high-end products, so we are benefiting from that”, says chief executive Stefano Sassi.
In the first nine months of 2012, Valentino was able to increase its
turnover by 26%, compared to the same period in 2011. In September, the
year-on-year increase even rose to 33%.