Valentino Appoints Riccardo Bellini as New CEO

On August 20, Italian luxury fashion house Valentino SpA announced the appointment of Riccardo Bellini as its new chief executive officer, effective September 1. He succeeds Jacopo Venturini, who stepped down on August 13.

Bellini most recently served as managing director of Mayhoola for Investments, the Qatari investment fund that controls Valentino and Balmain. He will step down from this role, which is expected to remain frozen in the future. Mayhoola holds a 70% stake in Valentino, while French luxury group Kering SA owns the remaining 30%.

Previously, Bellini was CEO of Maison Margiela (2017–2019), where he worked closely with John Galliano to reposition the brand and significantly expand its revenues. From 2019 to 2023, he served as CEO of Chloé, spearheading a brand elevation strategy. He appointed Gabriela Hearst as creative director, advancing the house’s sustainability agenda and leading Chloé to achieve B Corp certification in 2021. Before his departure, he named Chemena Kamali as Hearst’s successor, laying the foundation for the maison’s next chapter.

Commenting on the appointment, Valentino chairman Rachid Mohamed Rachid said:
“With Riccardo’s appointment, we are accelerating Valentino’s trajectory. I know his extensive luxury experience, strategic acumen, and proven leadership, which — together with Alessandro Michele’s powerful creative vision — will drive the Maison forward and amplify its unique identity.”

Bellini added, “I am honored to join Valentino, an iconic maison that blends extraordinary heritage and craftsmanship with a unique creative voice. I look forward to working with Alessandro Michele and the exceptional Valentino teams to celebrate the Maison’s timeless values while crafting its next chapter.”

Valentino reported a challenging performance in 2024, with annual revenues of €1.31 billion, down 2% year-on-year, and EBITDA of €246 million, a 22% decline. As the broader luxury market slows, Bellini faces the task of steering Valentino back to growth through Alessandro Michele’s creative vision. With Kering having acquired a 30% stake in 2023 and holding an option to purchase the remaining 70% by 2028, the brand’s performance will carry significant weight in shaping its long-term direction.

In an increasingly uncertain luxury landscape, all eyes are on how Bellini’s leadership and Michele’s creativity will shape Valentino’s future.