Valentino has appointed Jacopo Venturini as its new Chief Executive Officer.
The Italian luxury brand who made the announcement on Tuesday said that effective June 1, 2020, Venturini will take over from Stefano Sassi. Sassi had been at the helm since 2006 just one year before Valentino Garavani and his business partner Giancarlo Giammetti stepped down.
‘It has been an incredible personal and professional experience working at Valentino for the past 15 years. The decisions that I’ve taken in full agreement with the board and the shareholders are aimed at the growing ambitions of the brand and I’m optimistic for the future of Valentino once the emergency situation will cease. I wish the very best to my colleagues,’ Sassi said in a statement.
For Venturini, the appointment is a welcome return home. The Italian executive has worked for Valentino twice before, first as womenswear and menswear brand manager between 2000-2004 and later as ready-to-wear collection director in 2008. Prior to his ‘third time a charm’ return to Valentino, Venturini was in charge of merchandising at Prada. He also worked with creative director Alessandro Michele at Kering’s powerhouse Gucci when he was made head of merchandising in 2015. This was followed by executive vice president, merchandising, and global markets of Gucci in 2018.
‘I’m very happy to return for the third time to Valentino, the Italian Maison which represents my first love affair in fashion. Valentino means heritage and future to me, it will be a pleasure working arm in arm with Pierpaolo,’ said Venturini in a press release.
‘I really would like to thank Stefano Sassi for the remarkable objectives achieved in the last decade. Stefano’s role has been pivotal in turning Valentino into the contemporary brand of today. I do believe that Jacopo, with his sharp vision and unique capability in sensing market changes, will inject in Valentino new vibrant energies. We are happy to have him lead the new brand course,’ Valentino chairman Rachid Mohamed Rachid said in a press release.
Upon his appointment, Venturini has the arduous task of helming the brand as sales of luxury goods fall worldwide due to the coronavirus pandemic.