April 17, 2019 / 2:23 PM / 4 days ago

Italian fashion group Valentino revenue growth slowed in 2018

MILAN (Reuters) - Revenues at Valentino, owned by Qatari investment vehicle Mayhoola, grew at a slower pace last year compared to 2017, the Italian fashion group’s chief executive Stefano Sassi said.

Valentino’s revenues totalled around 1.2 billion euro ($1.36 billion) last year, Sassi said on Wednesday, although he did not give a specific figure for the sales rise.

Valentino had posted 2017 revenues of 1.16 billion euros, up 7 percent at constant exchange rates on the previous year or a rise of 5 percent at current rates.

“We grew further in 2018 but not at the pace we were used to,” Sassi told an industry conference, adding that Valentino still had “significant growth ambitions”.

Sassi said he saw a positive trend in all markets in the first months of 2019, except for Macao and Hong Kong, although this was offset by higher demand from mainland China.

Asked about rumours that Mayhoola could sell Valentino, Sassi declined to comment, adding that a decision on that was up to the owner.

($1 = 0.8843 euros)

Reporting by Claudia Cristoferi, writing by Maria Pia Quaglia, editing by Alexander Smith

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