Chief Executive Stefano Sassi said “Now is the time for making major investments and boost the business, there will be new boutiques, new flagships, everywhere”, he explained as he was delighted by the new cash available to the brand after the sale by private equity firm Permira sold it to the Qataris this summer for 700 million euros ($903.4 million).
How close do the new owners work with the brand ? that is a sensitive issue that even Stefano Sassi will not tell you.
Asked if he had met Sheikha Mozah, glamorous wife of Qatar’s emir and one of the world’s biggest buyers of haute couture, who has spearheaded the emirate’s investment in fashion, Sassi replied: “This is top secret.”
One thing is certain, the brand will expand into Asia. China alone accounts for 40% of the brands sales, and the market has an appetite for high-end luxury.
This year in Paris Valentino’s talented duo of designers, Pierpaolo Piccioli and Maria Grazia Chiuri, have consistently stayed true to the heritage and integrity of the house over their past few seasons at the creative helm. This time out, they served up a solid, strong, yet quiet vision of “memory without nostalgia.”
The designs have never screamed out at you. They just say it in flowing soft colors.
So where did the designers get their inspiration this season for the Spring/Summer 2013 collection? Rome, citing the city’s spirit of change, and its desire for reinvention.