February 29, 2008

For Valentino: Doubled Revenues in 5 Years

Seeking a Replacement for Saelzer at Hugo Boss

di Andrea Bigozzi

Now that the last step in terms of reorganisation has taken place, (see page IV and V of MFF for the debut by new designer Alessandra Facchinetti), a new page has turned for the Valentino Group. “We have ambitious aims,” declared CEO Stefano Sassi just after the Paris show. “For Valentino SPA we are expecting to see turnover double within five years, and the opening of eight to ten new stores per year for the next few years.” Regarding Matteo Marzotto’s step down from the role of Valentino SPA President, Gianluca Andena, partner and Italian representative of the Permira Fund (which controls the Valentino Fashion Group) explained, “We agreed he would remain on board until the approval of the 2007 results.” Regarding Hugo Boss, under the aegis of VFG, Andena stipulated that the German company “would not be delisted” like Valentino. The step down a few weeks ago by Hugo Boss CEO Bruno Saelzer was due to “different points of view in terms of strategies and perspectives,” said Andena, adding, “We have not yet chosen a replacement.” (All rights reserved)