Italy's fashion house Valentino posts 3% drop in 2023 revenues

Revenues at Italian fashion house Valentino dropped 3% at constant exchange rate last year to 1.35 billion euros ($1.44 billion), the company said on Tuesday.

Last year French luxury group Kering KER bought a 30% stake in Valentino from Qatari investment fund Mayhoola, with an option to purchase the whole of company's share capital by 2028.

Valentino posted an operating profit of 99 million euros last year, down 18% compared with a year earlier.

($1 = 0.9383 euros)