According to Italian fashion house Valentino's CEO, Stefano Sassi, the company will reach the one billion euro turnover milestone this year, much faster than expected.
Strong growth in retail
Valentino's six-month results show the company managed to increase turnover 59 % over those first six months of the year, up to 478 million euro. Turnover more than tripled since 2011's 152 million euro: a huge increase that mostly comes from hugely improved retail sales as forty new stores in two years' time have helped those numbers grow 20 % every year.
The fashion company experienced its biggest growth in Europe, but its growth has been consistent in other markets as well, like in Japan, Brazil and the United States. Chinese turnover went up 30 % in the first half of this year, while Europe contributes 40 % to the company's total turnover.
The 1 billion euro turnover mark was mentioned in its 5-year plan several years ago, but Valentino will now reach that goal well before the end of that plan.