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Valentino Feels The Pinch: Profit Slides 22% As Luxury Sector Cools

by News Editor

April 18, 2025

Italian fashion house Valentino is navigating rougher waters. The brand reported a 22% drop in operating profit for 2024, landing at €246 million, as luxury demand softened, particularly in Asia, once considered a growth engine for high-end brands.

Despite solid sales in Japan, the Middle East, and the Americas, total revenue dipped 2% at constant exchange rates to €1.31 billion. The company points to one-off costs and continued investment in its directly operated stores as key profit pressures.

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With China’s luxury appetite waning and geopolitical uncertainty, including lingering effects from U.S. trade policy under Donald Trump, European brands are increasingly relying on wealthy American shoppers. But even that fallback is showing cracks.

One bright spot: e-commerce. Online sales rose 5% year-over-year, a modest but meaningful gain as Valentino works to strengthen its digital presence.

CEO Jacopo Venturini struck a hopeful tone, spotlighting the brand’s creative reboot under Alessandro Michele. The former Gucci star, known for his eclectic and maximalist style, stepped into the role in March 2024 after the departure of Pierpaolo Piccioli, who defined Valentino’s identity for over two decades.

All eyes are now on Michele’s vision for the brand—and whether it can reignite momentum in a slowing global market.

Meanwhile, the company’s long-term path may soon shift. In 2023, Kering acquired a 30% stake in Valentino, with an option to buy full ownership by 2028. As luxury groups recalibrate amid cooling demand, strategic moves like this could shape the next era of fashion power plays.

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Cyprus Emerges As A Leading Household Consumer In The European Union

by THEFUTURE.TEAM

June 30, 2025

Overview Of Eurostat Findings

A recent Eurostat survey, which adjusts real consumption per capita using purchasing power standards (PPS), has positioned Cyprus among the highest household consumers in the European Union. In 2024, Cyprus recorded a per capita expenditure of 21,879 PPS, a figure that underscores the country’s robust material well-being relative to other member states.

Comparative Consumption Analysis

Luxembourg claimed the top spot with an impressive 28,731 PPS per inhabitant. Trailing closely were Ireland (23,534 PPS), Belgium (23,437 PPS), Germany (23,333 PPS), Austria (23,094 PPS), the Netherlands (22,805 PPS), Denmark (22,078 PPS), and Italy (21,986 PPS), with Cyprus rounding out this elite group at 21,879 PPS. These figures not only highlight the high expenditure across these nations but also reflect differences in purchasing power and living standards across the region.

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Contrasting Trends In Household Spending

The survey also shed light on countries with lower household spending levels. Hungary and Bulgaria reported the smallest average expenditures, at 14,621 PPS and 15,025 PPS respectively. Meanwhile, Greece and Portugal recorded 18,752 PPS and 19,328 PPS, respectively. Noteworthy figures from France (20,462 PPS), Finland (20,158 PPS), Lithuania (19,261 PPS), Malta (19,622 PPS), Slovenia (18,269 PPS), Slovakia (17,233 PPS), Latvia (16,461 PPS), Estonia (16,209 PPS), and the Czech Republic (16,757 PPS) further illustrate the disparate economic landscapes within the EU. Spain’s figure, however, was an outlier at 10,899 PPS, suggesting the need for further data clarification.

Growth Trends And Economic Implications

Eurostat’s longitudinal analysis from 2019 to 2024 revealed that Croatia, Bulgaria, and Romania experienced the fastest annual increases in real consumer spending, each growing by at least 3.8%. In contrast, five member states, with the Czech Republic experiencing the largest drop at an average annual decline of 1.3%, indicate a varied economic recovery narrative across the continent.

This comprehensive survey not only provides valuable insights into current household consumption patterns but also offers a robust framework for policymakers and business leaders to understand economic shifts across the EU. Such data is integral for strategic decision-making in markets that are increasingly defined by evolving consumer behavior and regional economic resilience.