Valentino Reports Decline in 2023 Sales, Profitability [Yahoo! Finance]
KERING SA UNSP/ADR (PPRUY)
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Source: Yahoo! Finance
Citing a “challenging global context for the luxury industry,” the Rome-based couture house on Tuesday morning reported a 5 percent decrease in 2023 revenues to 1.35 billion euros, including impacts from changes in exchange rates. This compares with sales of 1.42 billion euros in 2022. At constant exchange rates, revenues last year were down 3 percent. More from WWD Golden Goose Reports Q1 Sales Growth, Marco Bizzarri Joins Board Luxury Handbag Designer Nancy Gonzalez Sentenced to 18 Months in Prison Rowing Blazers Unveils Revised and Expanded Book at NYC Fundraiser In an emailed message, chief executive officer Jacopo Venturini said that “it's important to note that despite this [decline], we, as a company, maintained our positioning and awareness. Our shared vision, centered on client-centricity and colleague-centricity, played a significant role in this achievement.” Direct sales, which include e-commerce, increased by 3 percent in 2023, mainly driven by solid business
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