Valentino sees sales soar

Italian luxury house Valentino has enjoyed a stellar year of sales, posting an increase

of profit of 22 percent year-on-year to 390 million euros.

Valentino's CEO Stefano Sassi in an interview with Italian broadsheet Il Sole 24 Ore said the company's revenues jumped 70 percent in since 2010.

The company's investment in its online business also paid off, as it saw a growth of near 40 percent in the final quarter of 2012. Sassi said Europe remains Valentino's most profitable region for both retail and wholesale sales.

With the backing of Valentino’s new shareholder, Qatar's Mayhoola for Investment, the house’s five-year plan envisages investment of 200-250 million euros to double the number of single-brand stores from the current 80.

The financing will also include opening flagship stores in Paris, New York, London and Monte Carlo.