Valentino Appoints Deputy CEO

MILAN — Valentino‘s main enforcement serviceman Riccardo Bellini is gradually gathering his team, starting with a lawman to flank him successful the caller section of the Rome-based couture house.

Laurent Bergamo, who was promoted to lawman CEO, archetypal joined Valentino successful 2018, aft spending 14 years astatine Tod’s. He roseate done the ranks, from his relation arsenic wide manager of the company’s Middle East region, and successful 2020 to the presumption of CEO of Americas. Before being named main commercialized serviceman successful 2023, expanding his purview to Eastern markets portion overseeing the planetary outlet concern and retail show and operations organization, helium was main commercialized serviceman Americas, Brazil, Europe and Middle East.

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Davide Tosi was named main merchandising serviceman of Valentino. He was antecedently planetary main merchandising serviceman ready-to-wear astatine Gucci, reporting to Maria Cristina Lomanto, who near the marque successful mid-November. She was Gucci’s president of Europe, the Middle East and Africa since 2022.

Bellini succeeded Jacopo Venturini connected Sept. 1. He was antecedently managing manager of Valentino’s genitor Mayhoola, which controls Balmain, Pal Zileri and Turkish retailer Beymen. Before that, Bellini engineered the turnarounds of Chloé and Maison Margiela.

Valentino saw 2024 revenues alteration 3 percent to 1.31 cardinal euros and net earlier interest, taxes, depreciation and amortization autumn 22 percent to 246 cardinal euros. Under Bellini and originative manager Alessandro Michel, the location is successful the midst of a turnaround.

Valentino has been streamlining its wholesale channel, reduced by astir 20 percent successful 2024, a strategy that continued successful 2025 and that is expected to interaction its year-end performance. It is understood the marque is tracking double-digit gross declines successful 2025, making it unfavorable for Mayhoola to workout its enactment enactment successful 2026.

As reported, Kering and Mayhoola successful September jointly revealed that the existent ownership operation of the Valentino house volition not alteration earlier 2028 astatine the earliest. This represents an amendment to their shareholders’ agreement, inked astatine the clip of Kering’s acquisition of a involvement in Valentino in 2023.

Two years ago, Kering bought a 30 percent involvement successful Valentino for 1.7 cardinal euros successful currency arsenic portion of a broader strategical concern with the Qatari concern fund. As per that archetypal deal, the French radical had an enactment to bargain 100 percent of Valentino’s superior by 2028, while Mayhoola could go a shareholder successful Kering, with the last acquisition terms linked to the Italian manner brand’s performance. As a effect of the caller agreement, Mayhoola’s enactment options connected Kering exercisable successful 2026 and 2027 for its remaining 70 percent involvement successful Valentino are present postponed to 2028 and 2029, respectively. Kering’s telephone enactment to get Mayhoola’s involvement successful 2028 is besides deferred to 2029.