MILAN – Stefano Sassi, chairman and chief executive officer of Valentino and Valentino Fashion Group’s ceo, is bullish about the mid- to long-term growth strategy for the Valentino brand, where he hopes to double sales over the next five years.
Sassi discussed future plans during a meeting here in the wake of two major events that hit the storied fashion house last year: the full takeover by private equity fund Permira in July and the announcement of Valentino’s retirement in September after his January couture show.
“These two circumstances accelerated the brand’s development and the idea of broadening the collections that was initially strategized under the Marzotto ownership,” said Sassi, adding that he and the Permira management are on the same wavelength on how to grow Valentino.
Valentino’s current creative setup partly retraces Gucci’s initial post-Tom Ford format with Alessandra Facchinetti in charge of all women’s ready-to-wear lines and couture; duo Maria Grazia Chiuri and Pier Paolo Piccioli spearheading the accessories division, and Ferruccio Pozzoni, the men’s wear designer since January.
For full coverage, see Monday’s issue of WWD.