MILAN — Just three months after taking over the reins of the Valentino beauty brand from Unilever, Procter & Gamble has announced plans to develop and expand the brand to increase sales.
In an announcement made in conjunction with Valentino, owned by Italian fashion and textile company Marzotto, a five-year turnaround plan has been developed to raise the sales of the beauty arm from 10 to 15 percent of the house’s total volume to 30 to 40 percent.
“It’s much smaller than it should be,” said Michele Norsa, chief executive officer of Valentino and general manager of Marzotto Apparel, of the beauty business.
Driving the turnaround plan will be a new fragrance, set to be launched at the beginning of 2005.
Paolo De Cesare, president of P&G’s global prestige beauty and skin care, confirmed the prospective women’s scent would be an important part of the new strategy for the brand. “We will develop the brand to be a force in beauty care,” he said. “Look at the work we have done with Hugo Boss — we want to apply the same system and strategy for Valentino.”
P&G believes another key to unlocking the Valentino’s beauty brand’s potential is to improve its position in store and on shelf —?and to ensure this, it plans to review every door Valentino’s beauty is in.
“We are currently reviewing all 10,000 doors we have in Europe and examining what to do with them,” said De Cesare. “We want to be in all the top doors for prestige fragrances. We aim to open some 10 to 20 percent more doors worldwide.”
However, that will be counterbalanced with a pruning of underperforming doors — estimated to be about 15 to 20 percent of total doors. After the review process, those doors are slated to be closed down. The brand has no specific plans for singling out any country for improvement, said De Cesare. Rather, it plans to focus on the bigger picture.
“Now we have to be competitive in all major markets,” said Norsa, adding, “we have put a lot of hope in Procter & Gamble to be everywhere, to distribute in those markets in the best way possible. I strongly believe in the U.S. I think it is the fastest-growing market, and Valentino is visibly strong and people are aware of the brand there.”Valentino ended its contract with Unilever — begun in the Eighties — because of differing objectives, said Norsa. “Unilever was starting a process of divesting top luxury brands, which was not in line with our need,” he said. “We wanted to start a new story of success. We are much closer to Procter & Gamble, which has a strong Italian management. This license is more a partnership than a business.”
That partnership is already generating work on a new fragrance.
“We get together every week, Valentino himself included, to develop the bottle and packaging and juice,” said Norsa. “We are taking the time with this fragrance, to develop it properly and to guarantee the quality.”
Though P&G or Valentino wouldn’t confirm the fragrance’s target audience, both said they wouldn’t rule out a beauty strategy for the new, younger, directional Valentino Red clothing line.
“To grow the business in the younger market, we developed the Red line in order to increase the accessibility — and the fragrance arm also helps to increase that accessibility,” said Norsa.
Added De Cesare: “We are sensitive to the positioning and magic of the brand. We feel it has a large untapped potential — if it travels on fashion it can travel on beauty.”
No specific plans have yet been made for a cosmetics line, but that doesn’t mean one wouldn’t be considered in the future, said De Cesare. “The brand has significant potential — everywhere I turn I see opportunities,” he said.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye