Italian fashion house Valentino has taken a first step into China with the opening of a boutique at a Beijing hotel, to be followed by an own-brand store in May, the company said in a statement.Valentino, which was bought by private equity group Permira last year, said the store would be in the Pahlife shopping centre. The boutique -- officially inaugurated on Wednesday -- is in the Peninsula Palace Hotel.
Designer and founder Valentino Garavani retires this month with his final haute couture show set for January 24 in Paris.
Known for his red gowns for the red carpet, the designer had focused on a traditional, conservative style. Industry investors have said the new owners want a more innovative creative head to help it expand into new markets.
China is one of the world's top consumers of high-end fashion, buying more than $2 billion worth a year. Brands such as Louis Vuitton, Gucci and Chanel already have outlets there. - MILAN (Reuters)
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