October 25, 2018 / 2:59 PM / 25 days ago

Valentino will keep growing this year, CEO says

MILAN, Oct 25 (Reuters) - Italian fashion firm Valentino, owned by Qatari investment vehicle Mayhoola for Investments, will keep growing in 2018, its CEO Stefano Sassi said on Thursday, without giving details.

This year “will be another year of growth, but November and December are important months,” Sassi said at an event in Milan.

In an interview with MF Fashion earlier this year, Sassi said the company, which does not release its results publicly, posted 2017 revenues of 1.16 billion euros ($1.32 billion) and earnings before interests, tax, depreciation and amortisation (EBITDA) of 190 million euros.

Sassi added on Thursday that he had just come back from a trip to China where he did not notice any signs of economic slowdown though “there are some concerns”.

A weakening pace of economic growth in China, against the backdrop of a trade spat between Beijing and Washington, had sparked a sell-off in recent weeks across the sector.

Sassi declined to answer a question on whether a listing was still part of Valentino’s plans. ($1 = 0.8791 euros) (Reporting by Masismo Gaia, writing by Giulio Piovaccari; editing by Agnieszka Flak)

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