Valentino Asian Region Or Price Reduction

"Valentino sales increased by 9.4% in the first quarter, or in Asia." the head of Valentino said that from April 29th, the price differentials in Europe and greater China and Southeast Asia will be significantly reduced.

The company has made it clear that the prices of products in Europe will remain unchanged and the prices of products in Asia will be reduced.

This strategy aims at strengthening brand image and protecting customer interests.

Italy luxury brand Valentino said its performance continued to grow in the first quarter of this year and will continue to adjust product prices in Greater China and Southeast Asia.

Valentino said its first quarter results were not affected by the exchange rate, and sales in all markets increased, with double-digit growth in sales in the US and Japan.

The company official pointed out that from April 29th, the product price difference in Europe and greater China and Southeast Asia will be significantly reduced.

The company has made it clear that the prices of products in Europe will remain unchanged and the prices of products in Asia will be reduced.

This strategy aims at strengthening brand image, protecting customers' interests and maintaining the company's recent retail investment.

Valentino has broken through the US $1 billion mark in 2015, reaching the target in two years ahead of schedule, the first quarter of this year.

Compared with $255 million in the same period last year, a 9.4% growth rate of $289 million was recorded.

According to earlier reports, Valentino sales surged 48% to $1 billion 90 million last year, and the company expects 2016 sales to continue double-digit growth.

Valentino company official pointed out that from April 29th, the product price difference in Europe and greater China and Southeast Asia will be significantly reduced.

The company has made it clear that the prices of products in Europe will remain unchanged and the prices of products in Asia will be reduced.

This strategy aims at strengthening brand image, protecting customers' interests, and maintaining the company's latest business.

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Valentino CEO Stefano Sassi pointed out that in 2015, the organic growth of Valentino in the market was stable, the same store sales increased by 20%, and the performance of wholesale channels was excellent. Last year, 30 new shops were added.

The company expects to increase 20 to 30 stores in 2016.

In March of this year, when Stefano Sassi talked about the impact of the exchange rate, he acknowledged that exchange rate fluctuations had some impact, but the company had already made adjustments.

He pointed out that travel areas such as Europe, Japan and South Korea are flooded with Chinese consumers. Chinese consumers will choose to consume areas that are favorable to their consumption, so Valentino will continue to narrow the gap in product prices.

He also stressed that the sales situation in Japan is very optimistic. Despite the lags behind in the development of the brand in Japan, sales in Japan are growing rapidly.

At present, several luxury companies have taken measures to reduce product prices in different regions.

A year ago, Chanel had revealed that the plan began to adjust the global pricing of branded products, while the price of products in Europe increased and the prices of products in Asia were cut down to narrow the gap in product prices.

Wrist watch brand Patek Philippe and Tag Heuer have adopted the same measures.

Chanel fashion President Bruno Pavlovsky said that the new pricing policy is conducive to building a good relationship between the brand and its customers.