Valentino: Revenues at 1.31 billion euros, down 2 percent in financial year 2024

Business

Valentino Autumn/Winter 2025, Ready-to-Wear. Credits: ©Launchmetrics/spotlight.

Italian fashion house Valentino’s revenues were largely stable compared to the previous year, totalling 1.31 billion euros in 2024, down 2 percent at constant exchange rates and 3 percent at current exchange rates, YoY. In 2023, the company closed at 1.34 billion euros.

Venturini: ‘Our work took a decisive step with Alessandro Michele’s arrival as new Creative Director’

“We made important progress in 2024, continuing to cultivate our fashion house’s promise to enchant, surprise and inspire our customers equally and in line with the brand's values since its foundation, from unparalleled attention to detail to dedication to excellence. Our work took a decisive step with Alessandro Michele’s arrival as new creative director”, chief executive officer Jacopo Venturini highlighted in a statement.

“His first collections, launched in the last months of 2024, have already shown how Alessandro's incredible inspiration manages to reinterpret the past through his unique and extraordinary eyes and combines with the freedom with which Alessandro fully expresses his creative genius. My thanks go to him and to all my colleagues at the fashion house, who have demonstrated constant commitment and admirable dedication in a year of challenges and progress,” the chief executive officer added.

Retail channel grew 5 percent compared to 2023, reaching 70 percent of revenues

The retail channel, including e-commerce, grew 5 percent compared to 2023, reaching 70 percent of total revenues, in line with the company's retail-driven vision and with the objective of reinforcing its direct presence in the market. “This strategy is also reflected in the desire to rebalance the weight of the wholesale channel (which in 2024 suffered a decline of approximately 20 percent) in favour of more selected distribution with strategic partners,” management explained in a statement.

Japan and the Middle East, along with the Americas, performed well, while Europe and Asia faced challenging situations, particularly in the second part of 2024.

The draft consolidated financial statement approved by the board of directors of Valentino spa reported an earnings before interest, taxes, depreciation and amortisation (EBITDA) of 246 million euros, down 22 percent compared to 2023 also due to the effects of non-recurring charges.

Valentino continued to invest in its network of directly operated stores, confirming the importance they have in its relationship with customers, “guided by the values of uniqueness, savoir-faire and client-centricity”, the statement specified. E-commerce reached an incidence of 15 percent of direct sales, compared to 11 percent in 2023 (plus 37 percent at constant exchange rates). The contribution of the beauty and fragrance business, licensed to L’Oréal, was positive, confirming growth in 2024 with an increase of 51 percent compared to 2023.

In 2024, Valentino maintained its Gender Equality certification for the second consecutive year. The fashion house also introduced a new company contract for retail (boutiques and outlets) and a new agreement on productivity bonuses for all employees in Italy, introducing improvements in work-life balance and welfare.

Regarding its commitment to sustainability, in line with the strategy defined in 2023, the fashion house dedicated itself to strengthening dedicated governance through dedicated training programmes, specialised committees and cross-functional working groups. In May 2025, the 2024 Sustainability Report will be published, illustrating the group's carbon footprint and progress towards the main key performance indicators (KPIs), in line with the three pillars: people, planet, product.

This article was translated to English using an AI tool.

Alessandro Michele

Jacopo Venturini

Valentino