Valentino revisits the executive organization

MILAN — Valentino is reorganizing its management structure, appointing three key people to the positions following the departure of Alessio Vannetti from the company.

Vannetti, Chief Brand Officer, is leaving to pursue new career opportunities, and his activities will be aligned with new marketing, e-commerce and omnichannel functions.

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Vannetti joined Valentino in March 2020 as CEO Stefano Sassi, tasked with managing various leading global functions, including entertainment, press office, events, graphic design and production, archive, media plan, social media and digital marketing. He was previously Gucci’s Global Communications Director from January 2015 to September 2019.

Before Gucci, Vannetti worked at Ermenegildo Zegna Group and Prada.

Laurent Bergamo has been appointed chief commercial officer and will expand his remit to the Eastern markets, while also overseeing the global outlet business and the efficiency and organization of retail operations. Bergamo, who was appointed Valentino CEO Americas in September 2020, was promoted to chief commercial officer Americas, Brazil, Europe and the Middle East in May last year. He joined Valentino in 2018 as CEO of the Middle East region, and previously spent 14 years at Tod’s.

Andrea Cappi has been appointed as e-commerce and omnichannel director for a newly created, dedicated business unit that aims to further develop the brand’s digital presence across the board. He will join the luxury fashion house on September 11. Cappi has built his career at Accenture, CRIF, Yoox, Liu Jo and Max Mara.

Valentino last year began internalizing its e-commerce, which was previously managed by the Yoox Net-a-porter group.

Valentino’s chief brand strategy officer, Yigit Turhan, has been named chief marketing officer, effective Tuesday. After previous experience at Ermenegildo Zegna Group and Gucci, Turhan joined Valentino in 2018.

Bergamo, Cappi and Turhan will report to Valentino CEO Jacopo Venturini.

“These appointments represent a significant step forward for the brand as it continues to strengthen its presence in the luxury fashion industry and reposition itself as a consumer-first fashion house in order to pursue a solid growth strategy,” the company said in a statement. It reflects Venturini’s vision since his arrival in 2020.

The appointments, the statement continued, “demonstrate Valentino’s unwavering commitment to cultivating the best talent in the fashion industry and pursuing excellence in all aspects of its business. With such an exceptional leadership team, Valentino is well positioned to capitalize on new opportunities, drive growth and continue to provide its discerning customers with unparalleled luxury experiences.”

As reported, Venturini rebalanced the fashion house’s retail and wholesale distribution, focusing on expanding its network of directly managed stores, which helped boost profits and revenues last year.

In the 12 months ended December 31, the Rome-based fashion house’s sales reached €1.42 billion, up 15 percent from €1.23 billion in 2021. Venturini attributed the increase to a change in the company’s business model. Valentino saw a 21 percent increase in its network of directly operated stores, including e-commerce, while the wholesale channel saw a 6 percent decline.

Retail sales account for 67 percent. sales, and the goal is for this channel to account for 80 percent by 2025 or 2026. total sales.

In the 12 months ended 31 December, earnings before interest, taxes, depreciation and amortisation, including the impact of IFRS 16, amounted to €337 million, an increase of 18 per cent compared to 2021. Operating profit totalled €121 million, an increase of 30 per cent compared to 2021.

In May, Valentino unveiled a boutique on Avenue Montaigne in Paris, the first major flagship to feature its new retail concept, launched last year and rolled out to 52 stores to date.

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