Italian luxury brand Valentino said on Monday its chief executive Jacopo Venturini was currently on sick leave, responding to media reports of his imminent departure.
A possible change of CEO would, if confirmed, pile further pressure on the high-end business which reported a decline in revenues and profit last year.
Italian fashion blog “The platform” reported on Sunday that the Italian manager, who took the role in 2020, was about to leave the group in order to have more time for himself.
Contacted by Reuters, the Rome-based group, controlled by Qatari investment fund Mayhoola, sent a short statement saying the executive was on sick leave, without providing further details.
Gucci-owner Kering bought a 30 percent stake in Valentino in 2023 for $1.7 billion with a commitment to buy the remaining 70 percent by 2028, hoping to create a second flagship label rooted in high couture.
Valentino, which last year named star designer Alessandro Michele as creative director to replace long-serving Pierpaolo Piccioli, reported a 2 percent drop at constant exchange rates in revenues last year, to 1.31 billion euros ($1.54 billion).
Its core profit declined 22 percent to €246 million, with the wider industry facing a demand slowdown and challenging economic backdrop.
Michele’s new collection, which arrived in stores only in the last quarter of 2024, according to documents registered at the local chamber of commerce, is yet to convince customers, three sources close to the matter said.
Valentino’s usual customers are not buying much of the collection and new converts have been slow to emerge, the sources said.
Valentino wasn’t immediately available for a comment about the new collection’s performance.
Kering’s purchasing deal included cross put and call options for Kering, which is struggling to relaunch its main brand Gucci, to purchase the whole of Valentino’s share capital from May 2026 through 2028.
Analysts are wondering about the timing of the acquisition of the remaining stake, as it could weigh on the company, which is already struggling to cut debt.
By Elisa Anzolin; Editors: Cristina Carlevaro and Keith Weir
Learn more:
The BoF Podcast | Alessandro Michele and Jacopo Venturini on the New Valentino
At VOICES 2024, BoF editor-at-large Tim Blanks sits down with Alessandro Michele and Jacopo Venturini to understand their vision at Valentino, and discuss the emotional connection between creativity and business.
![Rep. Alexandria Ocasio-Cortez’s tough Bronx persona is under fresh scrutiny with a resurfaced childhood nickname from her suburban upstate New York upbringing casting doubt on that publicly portrayed image. The progressive champion’s latest spat with President Donald Trump over the Iran strikes again called into question her true upbringing when she declared on X she was a “Bronx girl” to make her a point against the president. The 35-year-old congresswoman wrote in part on X: “I’m a Bronx girl. You should know that we can eat Queens boys for breakfast. Respectfully,” she said, referring to the president’s upbringing in Queens as she called for his impeachment over his decision to bypass Congress in authorizing U.S. strikes on Iranian nuclear facilities. Ocasio-Cortez was born in the Bronx but moved to Yorktown – which is nearly an hour outside New York City — when she was 5 years old and went on to attend Yorktown High School where she graduated in 2007. She was considered an accomplished student there and well thought of by teacher Michael Blueglass, according to a 2018 report by local media outlet Halston Media News. “There, known by students and staff as ‘Sandy,’ she was a member of the Science Research Program taught by Michael Blueglass,” the report states. “She was amazing,” Blueglass said, per the report. “Aside from her winning one of the top spots and going to the [Intel International Science and Engineering Fair], she was just one of the most amazing presenters in all of the years I’ve been at Yorktown. Her ability to take complex information and explain it to all different levels of people was fantastic.” After high school, Ocasio-Cortez attended Boston University, where she majored in economics and international relations, per the report. Ocasio-Cortez’s “Sandy” nickname — which carries a more suburban and preppy tone — appears to undercut her politically crafted image as a tough, inner-city fighter, one she has portrayed since her famous 2018 congressional campaign where she eventually ousted former 10-terms Congressman Joe Crowley. New York GOP Assemblyman Matt Slater, who now represents Yorktown, added to the scrutiny of Ocasio-Cortez’s persona in the wake of her brash with Trump and released images of Ocasio-Cortez from his high school yearbook. He claimed he and the rising Democratic star attended Yorktown High School at the same time when she was a freshman and he was a senior. “I saw the attacks on the president and her [Ocasio-Cortez] claims that she’s a big, tough Bronx girl,” said Slater. “To sit there and say that she’s a Bronx girl is just patently ridiculous.” “Everybody in our community knows this is just a bold-face lie,” said Slater on “Fox & Friends First” last week. “She grew up in Yorktown, she was on my track team.” “She’s lying about her background, she’s lying about her upbringing,” Slater claimed. Slater’s post sent social media ablaze and prompted Ocasio-Cortez to respond after an image if her family’s home was posted online. “I’m proud of how I grew up and talk about it all the time,” Ocasio-Cortez wrote on X Friday responding to the post. “My mom cleaned houses and I helped. We cleaned tutors’ homes in exchange for SAT prep.” “Growing up between the Bronx and Yorktown deeply shaped my views of inequality & it’s a big reason I believe the things I do today!”](https://i2.wp.com/static.foxnews.com/foxnews.com/content/uploads/2025/06/aoc-yearbook-2.jpg?resize=150,150&ssl=1 "Rep. Alexandria Ocasio-Cortez’s tough Bronx persona is under fresh scrutiny with a resurfaced childhood nickname from her suburban upstate New York upbringing casting doubt on that publicly portrayed image. The progressive champion’s latest spat with President Donald Trump over the Iran strikes again called into question her true upbringing when she declared on X she was a “Bronx girl” to make her a point against the president. The 35-year-old congresswoman wrote in part on X: “I’m a Bronx girl. You should know that we can eat Queens boys for breakfast. Respectfully,” she said, referring to the president’s upbringing in Queens as she called for his impeachment over his decision to bypass Congress in authorizing U.S. strikes on Iranian nuclear facilities. Ocasio-Cortez was born in the Bronx but moved to Yorktown – which is nearly an hour outside New York City — when she was 5 years old and went on to attend Yorktown High School where she graduated in 2007. She was considered an accomplished student there and well thought of by teacher Michael Blueglass, according to a 2018 report by local media outlet Halston Media News. “There, known by students and staff as ‘Sandy,’ she was a member of the Science Research Program taught by Michael Blueglass,” the report states. “She was amazing,” Blueglass said, per the report. “Aside from her winning one of the top spots and going to the [Intel International Science and Engineering Fair], she was just one of the most amazing presenters in all of the years I’ve been at Yorktown. Her ability to take complex information and explain it to all different levels of people was fantastic.” After high school, Ocasio-Cortez attended Boston University, where she majored in economics and international relations, per the report. Ocasio-Cortez’s “Sandy” nickname — which carries a more suburban and preppy tone — appears to undercut her politically crafted image as a tough, inner-city fighter, one she has portrayed since her famous 2018 congressional campaign where she eventually ousted former 10-terms Congressman Joe Crowley. New York GOP Assemblyman Matt Slater, who now represents Yorktown, added to the scrutiny of Ocasio-Cortez’s persona in the wake of her brash with Trump and released images of Ocasio-Cortez from his high school yearbook. He claimed he and the rising Democratic star attended Yorktown High School at the same time when she was a freshman and he was a senior. “I saw the attacks on the president and her [Ocasio-Cortez] claims that she’s a big, tough Bronx girl,” said Slater. “To sit there and say that she’s a Bronx girl is just patently ridiculous.” “Everybody in our community knows this is just a bold-face lie,” said Slater on “Fox & Friends First” last week. “She grew up in Yorktown, she was on my track team.” “She’s lying about her background, she’s lying about her upbringing,” Slater claimed. Slater’s post sent social media ablaze and prompted Ocasio-Cortez to respond after an image if her family’s home was posted online. “I’m proud of how I grew up and talk about it all the time,” Ocasio-Cortez wrote on X Friday responding to the post. “My mom cleaned houses and I helped. We cleaned tutors’ homes in exchange for SAT prep.” “Growing up between the Bronx and Yorktown deeply shaped my views of inequality & it’s a big reason I believe the things I do today!”")
