Valentino Taps Riccardo Bellini as Its New Chief Executive Officer.
Valentino Appoints New CEO: Riccardo Bellini
Valentino, the iconic Italian fashion house, has announced that Riccardo Bellini will be taking over as its CEO. This change comes after the departure of Jacopo Venturini, who left the company in August following five years in the role.
Bellini has been in his position at Mayhoola, the company's majority shareholder, since January of this year. His close relationship with Valentino's creative director, Alessandro Michele, and the confidence of the shareholder have backed this appointment.
Before joining Chloé, Bellini held the CEO position at Maison Margiela for three years. Prior to his fashion industry roles, he worked for OTB, the Italian holding company that owns Diesel, and for Procter & Gamble. Bellini also participated in the Fashion Task Force of the Sustainable Markets Initiative and served on the European advisory board of Conservation International.
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 at Valentino and his performance will be crucial for the potential future sale to Kering, a fashion conglomerate that acquired a 30% stake in Valentino in 2023. Kering has the option to buy 100% of Valentino's capital in 2028.
The latest results for Valentino showed a 22% drop in its operating profit (EBITDA) and a 3% decrease in its sales. Bellini's aim is to turn these figures around and steer the company towards success.
Valentino was founded in 1960 by Valentino Garavani and Giancarlo Giammetti. Today, the company is closely related to the Qatari royal family, which owns Mayhoola for Investments, its investment vehicle. Bellini, as the general director of Mayhoola, will work from Valentino's offices in Paris, Rome, and Milan.
This change in leadership comes at an important time for Valentino. With Bellini's extensive experience in the luxury sector, leading major fashion houses like Maison Margiela and Chloé, and his commitment to sustainability, he is well-equipped to guide the company through its next chapter.
