Milan (Reuters) – The Italian luxury house Valentino announced on Wednesday the appointment of Riccardo Bellini to the post of managing director, a week after the departure of Jacopo Venturini for personal reasons.
Riccardo Bellini hitherto held the position of Deputy Managing Director of the Qatari Investment Fund Mayoola, Valentino co-detentor with the luxury group Kering.
This decision is part of a larger movement of reshuffles that currently affects the fashion industry, while it is faced with a deep slowdown in the key markets that are the United States and China.
New creators will make their debut with Chanel, Balenciaga, Loewe, Maison Margiela and Versace during the next “Fashion Weeks” in September and October.
“I am honored to join Valentino, an emblematic house that combines exceptional heritage and know-how with a unique creative voice,” said Riccardo Bellini in a press release.
He will work alongside the artistic director Alessandro Michele who joined Valentino last year.
Riccardo Bellini previously held the position of Managing Director of Luxury Brands Maison Margiela and Chloé, and held management positions at Diesel and Procter & Gamble.
His appointment comes at a moment of uncertainty for Valentino, founded in Rome in 1960 by Valentino Garavani and Giancarlo Giammetti.
The brand is now partly belonging to the French Luxury Kering group, which bought 30% of the shares in Mayhoola for 1.7 billion euros in 2023, with the commitment to buy the rest by 2028.
(Written by Keith Weir, with Mimosa Spencer in Paris Kate Entringer and Noémie Naudin)
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