Valentino appoints Riccardo Bellini as its new leader in the executive role.

Valentino Appoints New CEO to Steer Brand's Future

Valentino, the iconic Italian fashion house founded in 1960 by Valentino Garavani and Giancarlo Giammetti, has announced a significant change in leadership. The company has appointed Riccardo Bellini as its new CEO, effective immediately.

Riccardo Bellini, who previously held the position of CEO at Chloé from 2019 to the present, brings a wealth of experience to his new role. Prior to his tenure at Chloé, Bellini worked for OTB, the Italian holding company that owns Diesel, and for Procter & Gamble. He also held the position of general director at Mayhoola, the parent company of Valentino, since January of this year. Before joining Chloé, Bellini held the same position at Maison Margiela for three years.

Bellini will be based in Valentino's offices in Paris, Rome, and Milan, and will be replacing Jacopo Venturini, who left the company in August after five years as CEO. Venturini resigned at the beginning of the month and has agreed to terminate his contract and position on the board of directors.

One of Bellini's main tasks will be to travel to visit all the employees of the firm. He intends to change the course of the company, a decision that is backed by the confidence of the majority shareholder, Mayhoola, which controls Valentino with a 70% stake.

The company's latest results showed a downward performance, with a 22% drop in its operating profit (EBITDA) and a 3% decrease in its sales. Bellini's performance will be crucial as Kering, which acquired a 30% stake in Valentino in 2023, has the option to buy 100% of its capital in 2028. The final purchase price will be determined by the development of the brand in these years.

The change is also supported by Bellini's close relationship with Valentino's creative director, Alessandro Michele. The company, which is closely related to the royal family of Qatar, which owns Mayhoola for Investments, its investment vehicle, looks forward to a promising future under Bellini's leadership.

As the new CEO of Valentino, Bellini is poised to steer the brand towards a brighter future, with a focus on revitalising its performance and re-establishing its position as a leader in the fashion industry.