Net losses totaled € 127 million. Valentino representatives discussed the company's losses during the pandemic. “First positive results” began to emerge in the fourth quarter of last year. According to Business of Fashion, the net loss was 127 million euros, compared to a profit of 33 million for the same period in 2019.
Valentino is attempting to recover profits under the leadership of CEO Jacopo Venturini, who previously worked at Gucci, by relying on sales of the most popular products, including items from the Rockstud line. Brand representatives are also gradually closing the Red line. They believe it will aid in the restoration of performance.
We'll remind you that Benedetta Piccioli, the daughter of Valentino's creative director, starred in the brand's new campaign. The first collection of decorative cosmetics has been released by the brand.