In 2020, Valentino, like many other luxury brands, had to confront unprecedented challenges brought about by the COVID-19 pandemic. However, under the leadership of new CEO Jacopo Venturini, the Italian fashion house exhibited resilience and creativity in overcoming these obstacles.
One of Valentino’s key strategies during this time was a significant reorganization that prioritized digital communication. By offering a diverse range of content, from advice to digital projects, the brand effectively engaged with its community, fostering a sense of connection during a time of physical distancing.
Valentino also made strides in enhancing its omnichannel integration, introducing clienteling and remote sales tactics to adapt to the changing retail landscape. Despite experiencing a 28% decline in overall revenues, the brand witnessed a notable increase in sales within its ready-to-wear and accessories categories, particularly with its Fall 2021 pre-collection.
The growth of Valentino’s e-commerce platform was another highlight of the brand’s resilience in 2020, with a significant 62% increase in online sales across various platforms. The partnership with Yoox Net-A-Porter (YNAP) facilitated smoother online transactions, enabling customers to enjoy faster delivery times through the “Next Era” multichannel interface.
Valentino’s success story extended to the Chinese market, where revenues surged by 44% in 2020. The brand’s creative director, Pierpaolo Piccioli, further solidified Valentino’s presence in China by organizing a multimedia experience titled “Valentino: Re-Signify Part One Shanghai” in December.
Looking ahead, Valentino President Rachid Mohamed Rachid highlighted the importance of prioritizing omnichannel activities and leveraging cutting-edge digital technologies. By staying agile and connected with its audience, Valentino has not only weathered the storm of the pandemic but is also poised for growth and recovery in the future.
To learn more about Valentino’s digital initiatives and growth strategies, check out the official Valentino website here. Additionally, for insights into the luxury fashion industry’s response to the pandemic, visit the Business of Fashion website here.
