MILAN — Valentino Fashion Group SpA reported a net loss of 483.1 million euros, or $710.1 million, last year as a result of costs associated with the consolidation of the group and a writedown in the valuation of the company’s brands.
The loss compares with a net profit of 29.4 million euros, or $40.2 million, in 2007. Excluding impairment charges and an asset devaluation of 498.2 million euros, or $732.3 million, the loss would have been 67.1 million euros, or $98.6 million, according to the group’s annual report.
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