Valentino reduces the number of fashion shows: three per year

"Only" three fashion shows a year. New creative director (Alessandro Michele, will make his debut on 29 September in Paris) and new rhythms for the Maison Valentino. The company, owned by the Qatari fund Mayhoola for Investments and, 30 per cent, by the French group Kering, released a note announcing a development regarding the annual fashion show presentation. "The first Haute Couture collection under the creative direction of Alessandro Michele will be the only one scheduled for 2025 and will be held next January in Paris," it reads. The reduction of the haute couture shows from one to two has a precise objective: to elevate "inspiration and artistic value" The brand's Couture collection, which has always placed great emphasis on craftsmanship and creativity, "will continue to grow and the workmanship that characterises the Haute Couture collections will experience a new time of creation".

The calendar of the ready-to-wear shows also changes: the fashion house, which until now had almost always presented the women's and men's collections separately in Paris, will from now on unite the collections in two co-ed ready-to-wear shows per year. A formula, that of the 'unisex' show, which the creative director had also chosen several times at Gucci. In any case, the September fashion show, the first featuring Alessandro Michele's creations, is the most eagerly awaited event - both by the general public of fans and consumers, and by insiders - of the entire September 'fashion month'.

Valentino, like many other companies in the fashion and luxury sector, primarily the minority shareholder Kering, is navigating stormy waters. In an interview published in the Financial Times, CEO Jacopo Venturini - who had joined Alessandro Michele at Gucci and strongly wanted him at Valentino after Pier Paolo Piccioli's departure - said that "there is no magic formula", but that "the brand's DNA is stronger than any formula". Venturini also said that Valentino aims to increase the share of direct retail (from 75% to 80%) and that iconic products, such as the Rockstud collection, will remain. But that Michele will definitely be able to create 'the next Rockstud'.

Valentino ended 2023 with revenues of 3% to EUR 1.35 billion. In terms of profitability, ebitda stood at EUR 314 million, down 7% from 2022, while ebit was EUR 99 million (-18%).