Reported 1 day ago
Italian fashion house Valentino reported a 22% drop in operating profit for 2024, largely due to a slowdown in global demand for luxury goods, especially in Asia. The company's operating profit fell to €246 million as one-time costs and investments in stores took a toll, despite a 5% increase in online sales. With a bleak outlook for China, Valentino and other European luxury brands are looking to U.S. consumers for growth.
Source: YAHOO