Valentino to Open 35 Stores by 2013

Valentino to Open 35 Stores by 2013
May 13, 2008

Italian fashion label Valentino plans to expand by opening 35 stores by 2013, according to WWD.com. Stefano Sassi, chairman and CEO of the fashion brand and CEO of Valdagno, Italy-based Valentino Fashion Group S.p.A., said he hopes to double sales over the next five years. Sassi also said he wants to triple accessories sales in the same period; increase the number of directly owned stores to more than a 100 from 65, with most openings in the United States, Europe and Asia; and create a new store concept, which will be used for key flagship locations beginning at the end of the year. Sassi also hopes to strengthen the relationship with existing licensees, and plans to attract a younger, trendier consumer. Last July, Valentino was acquired by private-equity firm Permira, and designer Valentino announced his retirement. "These two circumstances accelerated the brand's development and the idea of broadening the collections that was initially strategized under the Marzotto ownership," Sassi said.

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