May 11, 2018 / 12:38 PM / in a year

Fashion group Valentino says no plan to list company

MILAN, May 11 (Reuters) - Italian fashion house Valentino said on Friday there was no plan to list the company.

A source told Reuters in December that Valentino was preparing to list on the Milan bourse sometime from late 2018, with its Qatari owner planning to sell around a quarter of the company in an initial public offering.

In a statement, Valentino also said 2017 revenues rose 7 percent at constant exchange rates to 1.16 billion euros ($1.38 billion), while core earnings fell to 190 million euros from 206 million a year earlier, hit by costs relating to marketing and industrial investments.

“The company’s objective remains focused on realising the brand’s full potential,” it said in a statement.

$1 = 0.8377 euros Reporting by Elisa Anzolin, writing by Agnieszka Flak

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