Valentino Appoints Riccardo Bellini as New CEO

Valentino now has a new CEO. The Roman firm has appointed Riccardo Bellini as its new CEO, replacing Jacopo Venturini, who left the company this August after five years in the position. Bellini comes from being CEO of Mayhoola, Valentino’s parent company, which controls it 70%. He has been in the position since January this year.

As WWD has advanced, Bellini arrives with the intention of changing the course of the company, backed by the confidence of the majority shareholder, as well as his close relationship with Valentino’s creative director, Alessandro Michele.

Bellini replaces Venturini, who resigned as CEO earlier this month in an agreement with Valentino to terminate his contract and board duties. The executive will work between Valentino’s offices in Paris, Rome and Milan, although one of his main tasks will be to travel to visit all of the firm’s employees.

Venturini resigned as CEO earlier this month in an agreement with the firm

Bellini’s performance will be key, as Kering, which in 2023 acquired a 30% stake in Valentino, has an option to buy 100% of its capital in 2028, and the final purchase price will be marked by the brand’s development in these years.

Bellini has an extensive career in the fashion world. He was CEO of Chloé, a company he joined in 2019 from Maison Margiela, where he also held the same position for three years. Previously, he worked for OTB, the Italian holding company that owns Diesel, and also for Procter&Gamble.

Valentino’s latest results showed a downward performance, with a 22% drop in gross operating profit (ebitda) and a 3% decline in sales. Founded in 1960 by Valentino Garavani and Giancarlo Giammetti, the company is closely linked to the Qatari royal family, which owns Mayhoola for Investments, its investment vehicle.