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Jacopo Venturini is stepping down as CEO of Valentino after five years, the Roman house announced on Thursday.
Valentino said in a brief statement that “it has reached a mutual agreement with Venturini to terminate his employment and board roles effective 13 August as Mr Venturini has decided to take a break for personal reasons.”
“A new chief executive officer will be announced in due course,” the house added.
After a successful stint as Gucci’s vice president of merchandising and global markets since 2015, Venturini joined Valentino in June 2020 as CEO. At the Mayhoola-owned brand, he worked with creative director Pierpaolo Piccioli until 2024 before reuniting with former Gucci creative director Alessandro Michele, who joined Valentino last year.
The new CEO will have to bring the company back to the path of growth, as Valentino is not immune to the luxury downturn. In 2024, sales of Valentino decreased by 2 per cent to €1.31 billion, and its EBITDA amounted to €246 million, down 22 per cent year-on-year.
A new executive will also have to navigate the sale of Valentino to Kering under Kering’s new CEO 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. Could that deal be reviewed under de Meo, who will take on his role as CEO of Kering on 15 September?
“When it comes to Valentino, nothing new under the sky,” Pinault told analysts on a call in June.
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