Italian luxury house Valentino has appointed fashion industry veteran Riccardo Bellini as its new chief executive officer, marking a significant leadership transition at a time when the global luxury market is slowing. The appointment was announced on Wednesday, with Bellini set to take up the role in early September, reported Reuters.
Bellini replaces Jacopo Venturini, whose departure was confirmed last week. His arrival comes directly from Mayhoola, Valentino’s Qatari parent company, where he has been managing director since January.
Bellini has built a reputation as one of the industry’s most seasoned leaders. He previously served as CEO of Maison Margiela and Chloé, and held senior roles at Diesel and Procter & Gamble. His career demonstrates a track record of guiding luxury brands through shifting consumer dynamics and international expansion.
In a statement, Bellini said he was "honoured to join Valentino, an iconic maison that blends extraordinary heritage and craftsmanship with a unique creative voice." He will work alongside creative director Alessandro Michele, who joined Valentino last year after a high-profile tenure at Gucci.
The pairing of Bellini and Michele reflects a wider industry trend of aligning operational leaders with creative stars to navigate a market facing headwinds.
Founded in Rome in 1960 by Valentino Garavani and Giancarlo Giammetti, Valentino remains one of Italy’s most prestigious maisons. Today it is majority-owned by Mayhoola, with French luxury group Kering acquiring a 30% stake in 2023 for €1.7 billion ($2 billion). Under the terms of that deal, Kering holds the option to acquire the remaining shares by 2028, reported Reuters.
Last month, Mayhoola denied a report in the Italian press that suggested the shareholders were considering selling Valentino. Kering, which will itself undergo leadership change next month as former Renault boss Luca de Meo becomes CEO, declined to comment on the speculation, reported Reuters.
This ownership arrangement means Bellini will need to steer Valentino through both operational challenges and potential changes in shareholder control over the coming years.
Bellini’s mandate is expected to focus on stabilising sales in core markets, sharpening Valentino’s positioning in the intensely competitive luxury sector, and driving growth in ready-to-wear and accessories alongside its couture business. Analysts say his experience at Chloé and Margiela suggests he understands how to balance heritage and modernity — a vital combination for Valentino, known both for its haute couture shows and red-carpet presence.
Equally, his partnership with Alessandro Michele will be central to the brand’s identity going forward. Michele, celebrated for revitalising Gucci during his tenure there, brings a bold creative vision that could help re-energise Valentino. Bellini’s job will be to align that creativity with operational discipline and commercial performance.