Valentino, one of Italy’s most renowned fashion brands, has announced the appointment of Riccardo Bellini as its new Chief Executive Officer (CEO). This decision was made public on Wednesday. Bellini will start his role on September 1, replacing Jacopo Venturini, who left the company by mutual agreement last week.
Before this appointment, Bellini was the managing director at Mayhoola, a major investor in Valentino. His new role will involve working closely with Valentino’s creative leader, Alessandro Michele, to help grow the brand and enhance its unique style.
Bellini has vast experience in the fashion industry. He only joined Mayhoola in January but has already been responsible for overseeing its luxury brand portfolio. Previously, he served as CEO of Chloé from 2019 to 2023 and held senior positions at Diesel and Maison Margiela. He also spent 12 years at Procter & Gamble, where he was the marketing director for their beauty division.
However, Bellini’s new job comes at a challenging time. The luxury fashion market is facing a slowdown, with major brands like LVMH and Kering reporting lower sales and profits. Earlier this year, Valentino shared its financial performance, showing a 2% decline in revenue at constant exchange rates, totalling €1.31 billion. While retail and online sales grew, the company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) decreased 22% to €246 million, primarily due to one-time costs.
With Bellini’s experience, Valentino aims to overcome these challenges and thrive in a competitive market.
