MILAN, Italy — Italian fashion house Valentino said on Friday there was no plan to list the company.
A source told Reuters in December that Valentino was preparing to list on the Milan bourse sometime from late 2018, with its Qatari owner planning to sell around a quarter of the company in an initial public offering.
In a statement, Valentino also said 2017 revenues rose 7 percent at constant exchange rates to 1.16 billion euros (£1.02 billion), while core earnings fell to 190 million euros from 206 million a year earlier, hit by costs relating to marketing and industrial investments.
“The company’s objective remains focused on realising the brand’s full potential,” it said in a statement.
By: Elisa Anzolin and Agnieszka Flak.