MILAN — Valentino is reorganizing its executive structure, with a focus on two strategic geographic markets.
Laurent Bergamo, who was appointed Valentino’s chief executive officer of Americas in September 2020, will be promoted to chief commercial officer Americas, Brazil, Europe and Middle East, effective May 1 and report to Jacopo Venturini, CEO of the fashion house.
Bergamo will continue to be based in New York and to lead Valentino’s retail, wholesale and online distribution channels for the U.S, Canada, and Mexico, while also mapping out a new expansion phase in Brazil, Europe and the Middle East.
He will liaise with the local CEOs, including the CEO for Europe, who will be revealed shortly.
Bergamo arrived at Valentino in 2018 as general manager of its Middle East region. Previously, he spent 14 years at Tod’s.
Venturini will oversee the CEOs of Greater China, Japan, South Korea and South East Asia. Last year, Valentino tapped former Zegna, L’Oréal and Berluti executive Masumi Shinohara as CEO Japan and South Korea. Also last year, Valentino named Mitchell Bacha CEO for Greater China.
In January 2021, Enzo Quarenghi joined Valentino as chief client officer and digital acquisition, a position that was part of a new division spearheaded by Venturini and signaling the Rome-based company’s increased focus on digital and an acceleration of its strategy to place customers at the center of its business, communication and marketing activities. Valentino’s e-commerce department will report to Quarenghi, now chief client and technology officer.
As reported, Valentino’s e-commerce grew at a double-digit pace compared with 2020 and a triple-digit pace compared with 2019. It accounted for 16 percent of retail sales in 2021 compared with 5 percent in 2019.
Valentino has been internalizing its e-commerce, which was previously managed by the Yoox Net-a-porter Group, starting in mid-February with a launch in Japan. In May, it will reach the U.S., followed by Europe.
Marco Giacometti, chief commercial officer, and Beatrice Monguidi, chief retail Europe and retail excellence officer, will leave the company on April 30 and May 31, respectively.
In a statement, Valentino said, “The revised organization will be reshaped leveraging on talent development and succession planning, with the clear objective of creating a work environment where leadership capabilities and cross-functional collaboration will be the core skills. Also key is the ability to work at hierarchical and functional levels while contributing to international projects and task forces.”
Despite the impact of the pandemic, in the 12 months ended Dec. 31 revenues rose 39.6 percent to 1.23 billion euros, compared with 882 million euros in 2020. In the fourth quarter of last year, retail sales climbed 29 percent, driven by full-price sales, balancing the contraction of markdowns.