The Italian Luxury House Valentino Naviga Duro 2024 with a 2% income immersion, 22% Ebitda drop

The Italian Luxury House Valentino faced a turbulent 2024, with financial results that reflect the wider industry. The company reported annual income of € 1.31 billion, almost flat compared to 2023, although it fell 2% to constant exchange rates and 3% to current rates. In 2023, the brand registered € 1.35 billion in income.

Retail trade, including electronic commerce, remained a strength, growing 5% year after year and representing 70% of total sales. This growth is aligned with Valentino's continuous impulse for a model led by retail trade. In its official statement, the company reaffirmed its strategy to invest in operated stores directly while rebalancing the wholesale channel, in approximately 20% in 2024, in favor of a more selective distribution and strategic associations.

Geographically, Valentino saw a positive impulse in Japan, the Middle East and the Americas. However, performance in Europe and Asia parts were weakened, especially in the second half of the year.

Valentino's Ebitda fell 22% to € 246 million, as detailed in the consolidated financial report of the group approved by the Board of Directors. The figure includes the impact of IFRS 16, which was partly attributed to non -recurring expenses.

Electronic commerce continued its ascending trajectory, representing 15% of direct sales in 2024, compared to 11% the previous year, which represents a 37% increase at constant exchange rates. Beauty and fragrance, licensed by L'Oréal, also served strongly, with a 51% increase in sales year after year.

The CEO Jacopo Venturini commented on the performance of the year, pointing out “significant progress” in 2024, particularly after the arrival of Alessandro Michele as creative director. “His first collections, launched in the last months of 2024, have already shown how Alessandro's extraordinary vision reinterprets the past through his unique lens and combines without problems with freedom through which he completely expresses his creative genius,” Venturini said.

The company also highlighted its continuous commitment to people and sustainability. In 2024, Valentino retained his gender equality certification for the second consecutive year. It also introduced a new employment contract for retail personnel (in boutiques and points of sale) and implemented a new productivity bonus for all employees in Italy, initiatives aimed at improving the balance between work and life and well -being conditions.

Valentino also strengthened his sustainability government through new training programs, dedicated committees and interfunctional working groups focused on long -term impact.

Valentino was acquired in 2012 by Mayhola, an investment firm supported by the Royal Family of Qatar. Mayhola also has brands such as Pal Zileri (Italy), Balmain (France) and the Turkish department store chain in the chain of greats. In July 2023, the French luxury group Kering acquired a 30% participation in Valentino for 1.7 billion euros, with the option of taking total control by 2028.