Jacopo Venturini is stepping down as chief executive officer of Italian luxury brand Valentino, WWD revealed on Thursday, August 14. His last day in the role was August 13.
In a brief statement, Valentino said it had “reached a mutual agreement with Venturini to terminate his employment and board roles” as he has decided to take a break for personal reasons.
A successor has not yet been named, though the company noted an announcement will be made in due course. Industry sources have suggested that Riccardo Bellini, former CEO of both Margiela and Chloé, could be in the running to take the helm.
Venturini was appointed CEO of Valentino in June 2020, succeeding Stefano Sassi. It was a return to the house for him—he had served as brand manager for womenswear and menswear between 2000 and 2004 before moving to Prada in 2005. In 2008, he rejoined Valentino as collection director, remaining until 2015, after which he became executive vice president of merchandising and global markets at Gucci. He returned to Valentino as CEO in 2020, leading brand restructuring, organizational reform, and retail expansion initiatives.
However, the downturn in the luxury market has also affected Valentino. In 2024, the brand’s revenue fell by 2 percent year-on-year to €1.31 billion, while EBITDA dropped 22 percent to €246 million.
Looking ahead, the company faces the challenge of navigating the ongoing acquisition process by Kering. In 2023, Mayhoola, the Qatari investment fund that owns Valentino, sold a 30 percent stake to Kering. The deal includes an option for Kering to acquire 100 percent of the brand’s share capital by 2028. Market watchers have suggested that the terms could be reviewed under Kering’s incoming CEO, Luca de Meo, who is set to take office on September 15.
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