Valentino Couture Spring 2020

MILAN — Marco Giacometti is joining Valentino as chief commercial officer, effective mid-April. This is a new role. He will report to chief executive officer Stefano Sassi and is tasked with consolidating and developing new business for Valentino, leading global markets, retail, wholesale and online distribution channels.

Giacometti hails from Fendi, where he developed his career since 2013 as president of the Asia-Pacific region and previously as president and ceo Japan, expanding that brand in new markets and growing its revenues. Prior to Fendi, Giacometti worked at Tod’s from 1999 to 2012, holding the title of general manager North Europe, president and ceo, USA and lastly global e-commerce director.

“The arrival of Marco is part of the strategy we are putting in place to reinforce the current management team, aimed to reach new development targets,” Sassi said. The company also pointed to Giacometti’s “extensive international experience” in markets around the world and his “managerial qualities and commercial in-depth knowledge.”

The appointment is in line with the recent steps taken by Sassi to strengthen Valentino’s organization. As reported, Alessio Vannetti will join the couture house on March 1 as chief brand officer, also a new role within the company.

According to market sources, Sassi has been spearheading the re-engineering of the Valentino structure for some months now, in sync with the company’s owner, Qatar-based Mayhoola, in order to strengthen the brand’s competitive advantage.

Vannetti’s appointment follows market rumors circulating in Milan that Jacopo VenturiniGucci’s former executive vice president, merchandising and markets, is headed to Valentino, as first reported by WWD. Venturini is said to be joining the Rome-based couture company in a top senior role after the approval of Valentino’s 2019 financial results, which usually takes place around March.

This would be a return to Valentino for Venturini, who joined Gucci in 2015 from Valentino and, before that, worked at Prada.

Sources believe he will become Valentino ceo, succeeding Sassi, who is said to be moving up the ladder to oversee the various Mayhoola brands at group level. Mayhoola also controls Balmain and Pal Zileri and sources say Sassi has often been consulted on matters regarding the other brands under the fund’s umbrella.