The Italian fashion house Valentino has confirmed there are no plans to list the company, after rumours of an IPO planned for late 2018


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.