Valentino CEO Resignation

Valentino announced the resignation of its CEO, Jacopo Venturini, after five years in the position. The Roman house stated that it had reached a mutual agreement with Venturini to end his employment and board functions, effective August 13, due to personal reasons.

Background

Venturini joined Valentino in June 2020, after serving as Vice President for Merchandising and Global Markets at Gucci since 2015. During his tenure, he worked with Creative Director Pierpaolo Piccioli until 2024, and later reunited with former Gucci creative director Alessandro Michele, who joined Valentino last year.

Future of Valentino

The new CEO will face the challenge of bringing the company back to growth, as Valentino is not immune to the current luxury industry downturn. In 2024, Valentino’s turnover decreased by 2 percent to EUR 1.31 billion, and its EBITDA decreased by 22 percent to € 246 million compared to the previous year.

Sale to Kering

The new manager will also need to navigate the sale of Valentino to Kering under the new Kering CEO, Luca de Meo. In 2023, Mayhoola sold a 30 percent stake in Valentino to Kering, with the option for Kering to acquire 100 percent of the brand’s share capital by 2028. It remains to be seen whether this deal will be reevaluated under de Meo’s leadership, which is set to begin on September 15th.