Milan Valentino chairman and CEO Stefano Sassi said the company plans to expand the number of directly owned stores to over a 100 from its current 65, according to a report in Women’s Wear Daily.
Valentino is also looking at developing a new store concept, which will be used for key flagship stores beginning at the end of the year, the report said.
Sassi noted that the company plans to double its 2007 consolidated sales of $381.4 million during the next five years by posting annual sales increases of 15%. He also said Valentino hopes to nearly triple accessories sales, which currently $73 million, over the same period.
Valentino is looking to attract a younger, trendier consumer while not losing the brand's current clientele, the report said.