Valentino Expanded The Incentive Mechanism To Distribute The Company'S Equity To More Employees Free Of Charge

Valentino, the Italian luxury brand, said in June that it was evaluating a loyalty plan for all employees, not just management.

According to reports, the loyalty plan will issue and distribute a total of 3.18 million shares of the company from 2019 to 2023, allowing employees to become shareholders of the brand directly. The goal of the plan is to become a long-term and sustainable incentive mechanism to motivate the core employees of the brand to work and play their respective important strategic functions, so as to promote the long-term development of the group and create a corporate culture oriented by continuous value creation and performance improvement.

The plan will be voted at a recent extraordinary general meeting of shareholders. The distribution object will be selected by the board of directors or the special personnel appointed by the board of directors. After passing the examination, the object will be entitled to receive part of the common shares of the company free of charge.

In April this year, Valentino announced sales in 2018, reaching 1.2 billion euros, a year-on-year increase of 3.4%, but did not disclose the increase under the influence of the exchange rate. In 2017, Valentino's sales amounted to EUR 1.16 billion, up 7% year-on-year and 5% at constant exchange rate. Meanwhile, Stefano Sassi, the group's CEO, declined to comment on rumors that the brand would be sold.

Since mayhoola for investments, a private investment group controlled by the royal family of Qatar, bought for 700 million euros in 2012, Valentino S.p.A. has been constantly rumored about "going public.".