Alessandro Michele - Designer, Creative Director of Valentino | Page 46 | the Fashion Spot

Alessandro Michele - Designer, Creative Director of Valentino

I think he would be better off consulting here and there on projects and collections.

I had faith that he would be able to pivot a la Hedi at Celine after his first show wasn’t received well. I see glimmers of hope in his collections but it’s like he just can’t help himself. I think Alessandro’s base isn’t as large as him and the hiring powers thought. The powers that be miscalculated his authority in fashion
 
I don’t think his product is unsaleable per se although the high romance aesthetic he pushes is definitely not in vogue right now. The problem is that he’s at the wrong house. Valentino is Italy’s Givenchy. Directionless, unremarkable in every category, surprisingly expensive. A house that rides on the coattails of its admittedly talented founder. The last straw as someone else pointed out was the VLTN line, which has been a Chav favourite. That, and the rockstud trainers, are what they’re known for. I can’t think of anything else in recent memory. That said, I’m 30.
 
Mayhoola has denied recent reports suggesting a sale of Valentino, following an article by Corriere della Sera that hinted at internal discussions and market pressure.
Speaking to Reuters, the Qatari fund stated clearly:
“This news is untrue.”


The story, however, opens a deeper conversation.

Kering currently holds 30% of Valentino, with a call option to acquire full ownership by 2028. That deal announced in July 2023 values the maison at around €5.8 billion, making any full acquisition a high-stakes move, especially amid Kering’s ongoing restructuring and declining market cap.

Meanwhile, Valentino faces operational complexity:
Revenues were down in 2023 (reported at approx. €1.35 billion, -3% year-on-year).
CEO Jacopo Venturini is on medical leave.
The brand is navigating scrutiny over parts of its supply chain.

No official plans for changes in Kering’s leadership have been announced. The group remains under pressure to stabilize Gucci and rethink its long-term brand architecture.

In this landscape, Mayhoola’s denial carries weight. It signals a refusal to yield to market volatility. A commitment to long-term investment over opportunistic divestment. A stance that goes beyond finance and speaks to ownership of cultural capital.


This is not just about Valentino.
It’s about who shapes the future of European luxury:
Financial groups or fashion groups?
Short-term earnings or brand legacies?

Valentino may not be changing hands today. But the luxury industry certainly is.
 

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