Italian fashion brand Valentino has beaten its own financial forecast having topped $1 billion in annual sales.
According to WWD, revenues jumped a full 48% percent in 2015 going from $880.4 million in 2014. 'The one billion figure is symbolic; we have arrived at a dimension and critical mass that the brand did not have, with significant cash and profitability,' Valentino's CEO Stefano Sassi told WWD.
Noting that 2015 was 'an exceptional year' Sassi cited creative directors Maria Grazia Chiuri and Pierpaolo Piccioli as contributors to its success, alongside accessories as well as growing customers' interest in its accessories and menswear.
Following the announcement, Sassi also addressed the IPO rumors saying that while an IPO is probably on the horizon, it won't come until next year at the earliest.
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