With ending of the quiet luxury trend, demand for bold designs amongst affluent consumers is expected to rise, says Rachid Mohamed Rachid, Chairman, Valentino.
Valentino is embarking a ‘new chapter’ in its entrepreneurial journey as the brand hired Alessandro Michele as its creative director last month.
The move reflects the brand’s move away from the minimalist and monochrome styles of its precedessor Pierpaolo Piccioli whose collections had created a buzz with their elegance and single-colored focus. Valentino’s recruitment of Michele surprised the fashion world as the designer helped Gucci triple sales between 2014-19. Under his direction, Gucci sales almost tripled between 2015 and 2019.
According to Rachid, conditions for luxury goods remain tough. This year, the markets are expected to grow between 2 per cent to 4 per cent. However, in reality, the markets in Europe, the US continue to remain flat.
