Group organisation as at 31 December 2009

VALENTINO
FASHION GROUP S.p.A.

MARLBORO CLASSICS VALENTINO

and other brands
100%

MARLBORO CLASSICS Valentino S.p.A.

Division Milan, Italy

FASHION Valentino Deutschland GmbH 100%

Valentino S.p.A.
0,16% Division Munich, Germany

Lux Valentino S.A. 99,84% Valentino Nederland B.V. 100%

Luxemburg Amsterdam, The Netherlands

V.F.G. Partners Inc. 100% Valentino Spagna S.L. 100%

Wilmington, U.S.A. Madrid, Spain
45%

Proenza Schouler LLC V.F.G. Italia S.r.l. 100% Valentino England Ltd 100%
New York, U.S.A. Milan, Italy London, United Kingdom
100%

V.F.G. U.S.A. Inc. 100% Twenty One LA Ltd

New York, U.S.A. London, United Kingdom

V.F.G. France S.a.s. 100% Valentino Japan Ltd 100%

Paris, France Tokyo, Japan

4%
99% V.F.G. Hong Kong Ltd Valentino Fashion Macao Co. Ltd
1% 96%
Hong Kong, China Macao
96%

V.F.G. Macao Company Ltd Valentino Hong Kong Ltd 100%

4%
Macao Hong Kong, China
100%

V.F.G. Deutschland GmbH 100% Valentino (Beijing) Fash.Trad. Co Ltd

Munich, Germany Beijing, China

Valentino Fash. Group España S.L. 100% ValentinoSingapore

Valentino Taiwan Co.
PteLtd
Ltd 100%
Madrid, Spain Taipei City, Taiwan
Singapore

V.F.G. UK Ltd 100% Valentino

Valentino CoutureSdn.
Malaysia S.a.s.
Bhd 100%
London, United Kingdom KualaParis, France
Lumpur, Malaysia

V.F.G. Finland OY 100% Valentino

Valentino Taiwan Co.S.A.M.
Monte-Carlo Ltd 100%
Helsinki, Finland Taipei City,Carlo
Monte Taiwan

V.F.G. Distribuzione S.p.A. 100% Valentino

Valentino U.S.A. S.a.s.
Couture Inc. 100%
Milan, Italy New York,
Paris, U.S.A.
France

98,50% V.F.G. Suisse S.A. 99,50% V.F.G. Canada

Valentino
Valentino U.S.A.Inc.
Monte-Carlo Inc.
S.A.M.
Mendrisio, Switzerland Toronto,
New York,Canada
Monte U.S.A.
Carlo
10%

90% V.F.G. Canada

V.F.G. Czech Republic s.r.o. Valentino U.S.A.Inc.
Inc. 100%
Prague, Czech Republic Toronto,
New York,Canada
U.S.A.

100% V.F.G. Canada Inc.

Toronto, Canada

Operations managed by the

Parent Company
Other subsidiaries
Associated companies