Figure 1(Models.com, 2009)
INTRODUCTION
Valentino: The last emperor is a film about one of the greatest fashion designers, Valentino Garavani. He developed an interest in fashion when he was a teenager after watching a film with his sister. Valentino first opened his fashion house in Rome in 1959 and soon after that, he became one of the top European designers. Giancarlo Giammetti is Valentino’s business partner since 1960. In 2007, Valentino announced his retirement. Matt Tyrnauer, a filmmaker and journalist, examines and evaluates the private and public lives of Valentino in the documentary, Valentino: The Last Emperor. In this film, they look at the different relationships, how the designs are made, the lifestyle, how the changes in the industry have impacted him and his business. It is a 2008 documentary film produced and directed by Matt Tyrnauer. Valentine brand carries a range of sophisticated items, including dresses, shoes, bags, and perfumes. Haute couture is the name given to original designs that are sophisticated and exclusively designed and manufactured for wealthy royalties and celebrities. The business is stressful since they must meet deadlines for shows or for their clients. Their work can be both collaborative and independent and is left to the designer’s discretion. I believe the film fairly represented the industry since it showed one of the greatest icons in their work, the design process, the production of shows, the relationships and the awards.
Figure 2(Alux.com, n.d.)
BUSINESS DESCRIPTION
Marketing strategy mostly involves getting the brand products known to the target market. For Valentino, that includes having fashion shows, dressing popular celebrities, and appearing in popular fashion magazines. Valentino’s management style is hands-on. Valentino and other leaders of the company are involved in the design and show production processes.
Valentino’s business runs with the aim of meeting the stakeholder’s needs and protecting their interests. The company knows the need to adopt and implement a management, control, and organisation model. The company intends to implement this model and create a corporate culture that is based on raising awareness, legality, and the conduct that is against regulations, law, and internal provisions. The company’s headquarters are where the management activities are conducted and for Valentino the headquarters are in Italy. According to the group structure, Valentino UAE Dubai has 49 percent of the parent company. Valentino’s products are expensive. They range from $2,000 to $5,000 dollars. Valentino’s customers are high-end and wealthy.
Figure 3Short dress in Crepe de Chine 3,250 dollars (Valentino, 2016)
Figure 4Short Dress in Crepe de Chine. 4,790 dollars (Valentino, 2016)
Figure 5 Hawaiian Couture Medium Backpack. 2,445 dollars (Valentino, 2016)
KEY PLAYERS
Based on the film, it is clear that Giancarlo Giammetti is in-charge of the day-to-day business of the company. Valentino does not know what goes on in the production of shows or the dress sketches. The designer gets into the details of the sketch, for instance, where the dresses fold, colour, and other details. The pattern maker is about the pattern of the dress and a seamstress sews the dress according to the design and pattern presented. In the film, Giancarlo Giammetti explains that to work with Valentino as an employee, a lover, or a business partner would require a person to be patient with him. After the romantic relationship with Valentino ended, they had problems working together. But they later learned to solve their problems in a grown up manner. He explains that working with Valentino has its challenges but they have learned to solve their issues and move forward. That has made them the best of friends. Sassi explains that retail is the best way for the company to get its image and concept known to many people.
CORPORATE HISTORY
In September 2007, Valentino Garavani and Giancarlo Giammetti stepped down. It was after a private equity firm, Permira, bought 29.9 percent of Valentino Fashion Group. Alessandra Facchinetti was appointed as the new creative director. Facchinetti later left after two seasons. In 2009, during her time in office, Valentino’s revenues shrank by 9 percent from the previous year to approximately 232 million Euros. The company’s EBITDA also dropped to the negative scale. Permira then had to renegotiate with international banks about its loans and the investments in Valentino also reduced by more than 50 percent. Pierpaolo Piccioli and Maria Grazia then took over as co-creative directors and that led to positive changes for the brand. Stefano Sassi joined the company as a chief executive officer in 2006 December and he led the business through tough times. The goal was bringing Valentino back to being a cool brand. The co-creative directors aimed at updating the style and making it cool again.
FUTURE OUTLOOK
Valentino is expected to generate 1 billion Euros in sales, which is better than the previous year which was 664 million. Valentino was bought from Permira advisers by Mayhoola in 2012 for 700 million euros. The company recently showed off its collection in the Paris fashion week with models in safari-print coats and beaded dresses. Mayhoola together with Rothschild are working on a potential IPO and they aim at valuing Valentino at 2 billion euros. Once bought, Mayhoola may sell 25 to 35 percent of the business in terms of shares in the first half of the year.
CONNECTION TO ‘FAST FASHION’
Figure 6 (Valentino, 2016)
Figure 7 (Zara, 2016)
The first picture is from Valentino and the second is from Zara. It shows the influence Valentino’s Hawaiian collection has had on other collections in different fashion stores, especially in term of patterns and fabrics. Retail is important, especially where online retail is popular today. However, retail gets the brand products known to more people.
Works Cited
Amed, Imran. CEO Talk: Stefano Sassi, Chief Executive Officer, Valentino. The business of Fashion 6 April 2014. Web. Retrieved from http://www.businessoffashion.com/articles/ceo-talk/ceo-talk-stefano-sassi-chief-executive-officer-valentino
Baigorri, Manuel, Dinesh Nair and Ruth David. Valentino’s Qatari Owner Said to Explore IPO of Fashion Designer. Bloomberg 9 October 2015. Web. Retrieved from http://www.bloomberg.com/news/articles/2015-10-08/valentino-s-qatari-owner-said-to-explore-ipo-of-fashion-designer
Heilpern, John. Out to Lunch with Giancarlo Giammetti. Vanity Fair 9 October 2013. Web. Retrieved from http://www.vanityfair.com/style/2013/11/giancarlo-giammetti-valentino-partners
Valentino S.p.A. Organisation, Management, and Control Model Pursuant to Italian Legislative Decree 231/01. 2015. Web. Retrieved from http://www.valentino.com/experience/us/pages/corporate-information/
Valentino S.p.A. Group Structure Chart. 2015. Web. Retrieved from http://www.valentino.com/experience/us/pages/corporate-information/
Valentino, the Last Emperor. Dir. Matt Tyrnauer. Acolyte Films, 2008. DVD.
