Executive Departs by Mutual Agreement as House Reaffirms Confidence in Alessandro Michele
Jacopo Venturini has officially stepped down as chief executive officer of Valentino, ending his tenure with the Roman couture house on Wednesday. The company confirmed the departure on Thursday, citing a mutual agreement and noting Venturini’s decision to “take a break for personal reasons.”
No successor has been named yet, though Valentino said an announcement will follow “in due course.”
The move comes just months ahead of Creative Director Alessandro Michele’s anticipated debut collection for the house, scheduled for October 5 in Paris during the Spring 2026 season. Despite the leadership shake-up, insiders report that Michele’s position is unchanged, with the company expressing “full trust and commitment” in his vision for Valentino.
Venturini, who began his fashion career at Rinascente in the late 1990s, had a long and winding relationship with Valentino. After initial stints at the company from 2000 to 2004 and again from 2008 to 2015, he returned in June 2020 as CEO, succeeding longtime leader Stefano Sassi.
During his tenure, Venturini restructured Valentino’s operations, shut down the Red Valentino diffusion line, and began positioning the brand more firmly as an Italian couture house. His retail strategy focused heavily on China, launching the brand’s “Re-Signify” experience in Shanghai in 2020 and Beijing in 2021.
However, his final year was marked by headwinds. In 2024, Valentino reported a 3 percent dip in annual sales to 1.31 billion euros and a 22 percent decline in EBITDA, down to 246 million euros, citing non-recurring items and broader market challenges. Still, the brand saw a 5 percent boost in direct retail and e-commerce, which now represents 70 percent of total revenues.
Venturini’s exit also comes amid Valentino’s evolving ownership structure. In July 2023, French luxury group Kering acquired a 30 percent stake in the brand from Qatari investment firm Mayhoola for 1.7 billion euros. As part of the deal, Kering holds an option to acquire full ownership by 2028, while Mayhoola retains the possibility of becoming a shareholder in Kering.
Analysts estimate that Kering may need to pay up to 3.4 billion euros to purchase the remaining stake in Valentino—an acquisition that would significantly bolster its luxury fashion portfolio alongside Gucci, Balenciaga, and Saint Laurent.
With Michele at the creative helm and a potential full Kering acquisition on the horizon, all eyes now turn to October’s Paris show to see how Valentino’s next act will unfold.