According to Women’s Wear Daily, Valentino will not be presenting a new men’s collection during men’s Fashion Week in either Paris or Milan this coming January. A spokeswoman for Valentino has stated that the fashion house will instead opt for “commercial appointments” only.
While the company has not directly commented on the subject, all signs point to the financial crisis.
Last year, at the height of the luxury boom, private equity firm Permira bought Valentino Fashion Group, which includes Valentino as well as Hugo Boss, Marlboro Classics and M Missoni, for an estimated 2.6 billion euros, or $3.55 billion.
Sources have estimated the financial crisis wiped off around 1 billion euros, or $1.27 billion, of VFG’s value.
Source: WWD
