×
317
Fashion Jobs
ON TIME SOLUTIONS
Mnc Plastic Industry is Hiring Production Manager (Plastic)
Permanent · Bengaluru
HALONIX TECHNOLOGIES
Area Sales Manager/Territory Manager - Institutional Sales
Permanent · Dehradun
GOKALDAS EXPORTS
Manager - Warehouse (Apparel / Garment Background)
Permanent · Bengaluru
ADIDAS
Director - Finance fp&a Fsf
Permanent · CHENNAI
ADIDAS
Manager Digital Analytics - Product
Permanent · GURUGRAM
ADIDAS
Senior Technology Consultant
Permanent · GURUGRAM
RJCUBE STAFFING SOLUTIONS
Production Manager - Upholstery (Leather & Fabrics) For Greater Noida
Permanent · Greater Noida
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments-Woven/Knits For Garments Buying House, Noida
Permanent · Noida
NIKE
Information Security Risk Analyst (Grc) – Cis
Permanent · Bengaluru
RJCUBE STAFFING SOLUTIONS
qa/qc- Garments (Jersey, Etc) For Garments Buying House, Noida
Permanent · Noida
ZEN TECHNO ENGINEERING PVT LTD.
Production Manager
Permanent · Pune
ADIDAS
Manager Buying & Planning Operations
Permanent · GURUGRAM
ADIDAS
Product Owner Data Foundations
Permanent · GURUGRAM
ADIDAS
Senior Product Owner
Permanent · GURUGRAM
ADIDAS
Product Owner
Permanent · GURUGRAM
CROCS
Associate Demand Planner
Permanent ·
CROCS
HR Manager
Permanent ·
BRIDGING TALENTS
Quality Control Manager ii Retail Fashion Brand ii Jaipur / Bangalore
Permanent · Bengaluru
ALLEGIS GROUP
Opening For Sales Manager - Chennai & Kolkata
Permanent · Chennai
IDFC FIRST BANK
Opening For Area Sales Manager - Corporate Salary Mumbai
Permanent · Mumbai
TATA AUTOCOMP
Opening For Production Head at Chinchwad Plant
Permanent · Pune
THE BANYAN HR CONSULTS
Regional Sales Manager For Women's Wear Garments CO For Delhi & Ncr
Permanent · National Capital Region
Published
Feb 19, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Valentino posts sales declines in 2020, but sees recovery in China and online

Published
Feb 19, 2021

Like most luxury houses, Valentino was strongly affected by the pandemic last year. Accordingly, the Italian Maison has reported a 28% decline in its annual revenues, which fell from 1.22 billion euros in 2019 to 882 million euros in 2020. In constant currencies, the decrease was 27%. The company was, nonetheless, able to limit damage by reacting to the situation with a range of initiatives that allowed it to keep in touch with its customer base and strengthen its relationship with fans. 
 

Valentino's Spring-Summer 2021 show in Milan in September - Valentino


The label, which has undertaken a major reorganization of its management under the leadership of new CEO Jacopo Venturini, implemented a variety of new tactics. These ranged from reaching out to its community through digital communication using diverse content, including advice, games, performances, and digital projects, to improved omnichannel integration and the introduction of clienteling and remote sales strategies in the second half of the year. 

As a result, the brand, which has been owned by Qatari investment fund Mayhoola since 2012, saw an acceleration in sales in its two main categories, ready-to-wear and accessories, which represented 36% and 63% of the company's business volume, respectively, in 2019. On top of this, the sales campaign for the brand's Fall 2021 pre-collection, presented in July of last year, saw an increase of 25% in orders compared to the Cruise 2021 collection, which was itself a success with the public, having been sold through the original digital project, "Valentino Insights."

Another promising result was e-commerce. Valentino's online sales in all digital channels, including direct-to-consumer and multibrand platforms, shot up 62% in 2020. Despite not reporting exact figures, the Rome-based brand indicated that these sales represented 14% of the revenue made in its retail network. Valentino's own virtual boutique alone saw its sales rise 77% in the period. 

As a reminder, the label signed off on a partnership with luxury e-commerce platform Yoox Net-A-Porter (YNAP) for the distribution and delivery of its products in 2017, with both companies pooling their online sales resources into one multichannel interface dubbed "Next Era." This solution allows customers to access stock both from Valentino stores and from YNAP's network of eight fulfillment centers, thereby reducing delivery times. 
 
Finally, the brand also highlighted its strong results in China, where its revenues grew 44% year over year. In order to keep in touch with this market, which is one of Valentino's largest, the brand's creative director, Pierpaolo Piccioli, organized a multimedia experience entitled "Valentino: Re-Signify Part One Shanghai" in December.
 
"Our financial results for 2020 show a sector that has been strongly penalized by the global health emergency. Today more than ever, it's essential to concentrate on our omnichannel activity, with particular emphasis on innovation and advanced digital technologies," commented Valentino president Rachid Mohamed Rachid in a release. 

Copyright © 2023 FashionNetwork.com All rights reserved.