Valentino plays a major role in the luxury sector through tradition and innovation, with Valentino’s fashion is displayed through the Haute Couture and Prêt-à-Porter lines for women and men and through the Valentino Garavani accessory lines.
The company is present in over 100 countries through 175 Valentino directly operated boutiques and over 1,500 points of sale.
The agreement will be effective as of 1 January 2019, after customary regulatory approvals, if any.
Spotlight on Valentino
“Founded in 1960 in Rome, Maison Valentino holds a unique role in the luxury universe thanks to its long standing tradition in Haute Couture and the innovative contemporary vision of Creative Director Pierpaolo Piccioli,” the companies explain in a joint statement on the agreement.
“Under the successful direction of CEO Stefano Sassi and Creative Director Pierpaolo Piccioli, Valentino today embodies the image of beauty, of the extraordinary and of modernity, and as such, provides a strong inspiration for fragrance and beauty creation.”
The top three most popular fragrances today are Valentino Donna, Valentino Uomo and Valentina.
One for millennials
Nicolas Hieronimus, Deputy CEO of L’Oréal, suggests the agreement will allow L’Oréal to better appeal to millennials, who look for a modern twist to their high end consumer goods.
“We are thrilled to have been granted the license of Maison Valentino,” he says. “With its unique combination of prestige and modernity, Valentino definitely will appeal to millennial consumers around the globe and ideally complements our brand portfolio.”
Stefano Sassi, CEO of Valentino, confirms: “We are very excited to start this new venture together with L’Oréal to further develop our beauty business.
“We believe Valentino has great potential within the category and that with L’Oréal’s unparalleled expertise in the sector, we will be able to realize that potential.”