Thursday, 4 February 2010
Last year, Valentino SpA scaled back its expansion plans due to its own financial crisis (see the MO Down for December and July for details). But now, all signs point to major improvement and perhaps new store openings.
Valentino Fashion Group’s CEO, Stefano Sassi, said retailing revenue rose at a “double-digit” pace in December and January, and suggested “we can grow more” as a result.
Sassi also said, “I don’t know if we are seeing a light at the end of the tunnel, but for sure the situation is getting better. If the market stabilizes, there will be more opportunity to grow and then more opportunity to invest.”
For more information, click here to go to a Business Week article.
Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au