In an effort to align prices globally, Valentino has plans to cut its prices in Asia to bring them into line with Europe’s.
“Prices of products in Europe will remain unvaried, while those in Asia will be reduced,” a statement from the brand said, referring to Greater China and South East Asia, according to Reuters. “The strategy is aimed at continuously improving the image of the brand … (And) to protect the interests of clients and foreign direct investments made in retail recently.”
For the first three months of 2016, Valentino’s parent company Mayhoola has reported that its sales are up 9 percent to 256 million euros (about $290 million at current exchange).
Additionally, Valentino reported “double digit” growth in the U.S. and Japan. “So, don’t hold your breath for any American price cuts,” Fashionista joked.
The fashion house also revealed that its profits have reached a whopping $1 billion early last month.
(Source: Fashion times)