Salem Radio Network News Sunday, July 3, 2022

Business

Valentino reorganises structure, creates two new management roles

MILAN (Reuters) – Italian fashion house Valentino said on Monday it had reorganised its finance and operations structure into two distinct units to separate its business and control divisions.

The company, controlled by Qatari investment vehicle Mayhoola, said it had created two new roles – a chief operations and logistics officer and global chief financial officer – to be held by Giuseppe De Mori and Alberto Fasanotti, respectively.

Both areas will report directly to Chief Executive Jacopo Venturini.

De Mori will oversee the industrial strategy of the Maison, coordinating production with logistics at a global level. He will also oversee the digitalisation of internal processes and sustainability, a priority for the group, a statement said.

“We are set on building together the next chapter of the brand, streamlining the business as well as repositioning Valentino (as) the most established Italian Maison de Couture,” Venturini said in the statement.

He added the luxury group was “charting a new course for the future”.

The fashion house, founded in 1960 by Valentino Garavani, expects 2021 revenues to approach pre-pandemic levels as sales in the first half of the year were up 64% after being hard-hit by the COVID-19 emergency.

(Reporting by Silvia Aloisi, writing by Agnieszka Flak and Giulia Segreti; editing by Cristina Carlevaro and Louise Heavens)

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