Forget the mangificent red carpet dresses which made generations of women dream for over 45 years. Maison Valentino has changed: after being aquired in 2007 by English Private Investment Firm Permira the company has been focused on maximizing the turnover to make the best possible return-on-investment (ROI) within a few years. “We still create Haute Couture dresses, but they’re aim is more of a gleaming showcase to draw customer’s attention on our pret-à-porter” says Atty. Umberto Nicodano, lawyer’s office Eredi Bonelli Pappalardo’s partner and President of Valentino Fashion Group, who attended the third last seminary of the cycle “I Professionisti della Moda“ on 17th May.
“Nowadays the real bestseller product on luxury are accessories: consumers enter the store attracted by the fabolous dresses showed at the shop windows, but once inside they usually buy a small accessory, far less expensive, but still a luxury ‘status’ object. Aiming at accesories we’ve managed to increase the turnover from 250 million euro to over 600” declares Nicodano, who was named President after having assisted Permira on the takeover of Valentino Fashion Group. A great performance made possible despite the current economic crisis by foreign buyers coming again from Bric countries: India, Russia, and China and Brazil in particular, who let luxury fashion grow for +15% in 2011 (about Bric buyers travelling in Europe see also “Travellers are drivers for future growth in luxury” on Michele Norsa, “Pitti Fashion Fair” on Raffaello Napoleone, and “L’Europa non è in crisi, e l’Italia torna mercato emergente per la moda nel lusso” in Seminari Moda Sapienza on Nicola Anzivino).
So, after “Maestro” Valentino Garavani’s Haute Couture era and after present Permira’s turnover-growth time, what’s in Maison Valentino’s future?
“Thanks to this big turnover increase, the aim is to list again the company on Stock Exchange (after being aready listed on 2005 under property of family Marzotto) hoping to be able to launch a Public Tender Offer“, says Nicodano. “Don’t forget Permira is a private equity firm: Valentino Fashion Group’s takeover cost a big debt to it, so its aim is to get a proper return on that investment”.