The Italian fashion house Valentino announced that Riccardo Bellini will become the brand's CEO starting September 1. He is leaving his position as managing director of the parent company Mayhoola for Investments to support the strategic development of the house alongside creative director Alessandro Michele, writes Vogue Business, reports UNN.
Details
"Riccardo Bellini has become the new CEO of Valentino," the Roman fashion house announced on Wednesday.
His appointment, as stated, takes effect on September 1.
"Bellini will step down as managing director of Mayhoola for Investments, the parent company of Valentino and Balmain, and, as it became known, this position will be frozen," the publication states.
"With Riccardo's appointment, we are accelerating Valentino's development. I know his extensive experience in luxury, strategic acumen, and proven leadership qualities, which – together with Alessandro Michele's powerful creative vision – will drive the house forward and strengthen its unique identity," said Rachid Mohamed Rachid, Chairman of the Board of Valentino.
"I am deeply honored to join Valentino, an iconic house that combines extraordinary heritage and craftsmanship with a unique creative style. I look forward to working with Alessandro Michele and Valentino's exceptional teams to celebrate the timeless values of the house, creating its next chapter," said Bellini.
Addition
Jacopo Venturini left his position as CEO of Valentino on August 13 due to "personal reasons." The new CEO has experience working with renowned designers: from 2017 to 2019, he headed Maison Margiela, collaborating with John Galliano, and from 2019 to 2023, he managed Chloé.
Under his leadership, the brand went through the Covid pandemic period, canceled the second line See by Chloé, and brought in Gabriela Hearst as creative director, who presented her first collection in 2021. With Bellini's support, Chloé achieved B Corp status in October 2021, and in 2023, the brand appointed Chemena Kamali from Saint Laurent as its new creative director. Riccardo joined Mayhoola in January 2025.
The early collections of the current creative director of the fashion house, Alessandro Michele, presented for the Spring-Summer 2025 season, have not yet brought the expected commercial success, and the luxury apparel market remains challenging: in 2024, Valentino's sales fell by 2% to 1.31 billion euros, and EBITDA decreased by 22% to 246 million euros.
In addition to internal challenges, Bellini will have to manage Valentino's transition to Kering, which acquired a 30% stake in the brand in 2023 and will be able to buy it out completely by 2028.