Become a Vogue Business Member to receive unlimited access to Member-only reporting and insights, our Beauty and TikTok Trend Trackers, Member-only newsletters and exclusive event invitations.
Riccardo Bellini is the new CEO of Valentino, the Roman house announced on Wednesday. His appointment is effective 1 September. Bellini will step down from his current role as managing director of Mayhoola for Investments, the parent company of Valentino and Balmain, and it’s understood that the position will be frozen.
“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,” said Rachid Mohamed Rachid, chairman of Valentino, in a statement.
Bellini said: “I am honoured 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.”
It comes after Valentino announced the departure of Jacopo Venturini last week, effective 13 August. Venturini, who had been CEO of the house since 2020, “has decided to take a break for personal reasons”, according to last week’s statement.
Alongside Michele, whose debut show for Valentino was for Spring/Summer 2025, Bellini will face the task of returning the business to growth. Michele’s early collections have yet to deliver commercial success, and the market for luxury fashion remains highly challenging. In 2024, Valentino’s sales decreased by 2 per cent to €1.31 billion, and its EBITDA amounted to €246 million, down 22 per cent year-on-year.
Bellini will also have to navigate the sale of Valentino to Kering, which has its own new leader in the form of Luca de Meo. In 2023, Mayhoola sold a 30 per cent share of Valentino to Kering in a deal that will allow Kering to acquire 100 per cent of the brand’s share capital no later than 2028.
Bellini knows a thing or two about working with high-profile designers, having been CEO of Maison Margiela from 2017 to 2019, where he worked with John Galliano. Then, he became CEO of Chloe from 2019 to 2023. During his tenure at Chloé, he navigated the Covid period and pursued a brand elevation strategy, cancelling its secondary line, See by Chloé. He also tapped Gabriela Hearst, who presented her first collection as Chloé creative director in March 2021.
Hearst’s focus on sustainability — supported by Bellini — led to the company achieving B Corp status in October 2021. In July 2023, Chloé announced that Hearst was stepping down as creative director. In October 2023, Bellini poached Chemena Kamali from Saint Laurent to be Hearst’s successor. He joined Mayhoola in January 2025.
Comments, questions or feedback? Email us at feedback@voguebusiness.com.
More from this author:
Jacopo Venturini steps down as CEO of Valentino
