Jacopo Venturini has resigned as CEO of Valentino for personal reasons. The Italian luxury brand has confirmed that. His departure comes at a difficult time for the company.
Great uncertainty
Venturini and parent company Mayhoola reportedly made the decision “by mutual agreement.” The top executive, who took office in June 2020, had already been absent for medical reasons in recent weeks. His departure comes at a challenging time for the luxury brand, which reported sales down 2% (at constant exchange rates) to 1.31 billion euros over last year.
Moreover, there is the uncertainty of a sale: Mayhoola sold a 30% stake in Valentino to Kering in 2023, with an option for Kering to take over the remaining shares by 2028. But Kering is said to be reconsidering that investment in the meantime, and may want to sell the company with Mayhoola to strengthen its balance sheet. So Venturini’s successor awaits a difficult task.
