عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

Valentino Cancels June Fashion Shows Following Piccioli’s Exit

A model presents a creation by designer Pierpaolo Piccioli as part of his Spring/Summer 2024 collection show for fashion house Valentino during Men's Fashion Week in Milan, Italy, June 16, 2023. REUTERS/Claudia Greco
A model presents a creation by designer Pierpaolo Piccioli as part of his Spring/Summer 2024 collection show for fashion house Valentino during Men's Fashion Week in Milan, Italy, June 16, 2023. REUTERS/Claudia Greco
TT
TT

Valentino Cancels June Fashion Shows Following Piccioli’s Exit

A model presents a creation by designer Pierpaolo Piccioli as part of his Spring/Summer 2024 collection show for fashion house Valentino during Men's Fashion Week in Milan, Italy, June 16, 2023. REUTERS/Claudia Greco
A model presents a creation by designer Pierpaolo Piccioli as part of his Spring/Summer 2024 collection show for fashion house Valentino during Men's Fashion Week in Milan, Italy, June 16, 2023. REUTERS/Claudia Greco

Italian fashion house Valentino said on Monday that it would not present its Men's and Haute Couture fashion shows in June, following the departure of its creative director Pierpaolo Piccioli.

The group said on Friday it had agreed with Piccioli to end their collaboration, adding that a new "creative organization" would be announced soon.

"Following the latest organizational announcement regarding the Maison's Creative Direction, Valentino confirms that it will not present its upcoming Men’s and Haute Couture fashion shows in June 2024," the group said in a statement on Monday.

"Creativity will continue to lead the company as a key pillar, shaping new future collections ...", it added

Earlier on Monday fashion trade publication WWD reported that Gucci's creative director Alessandro Michele was negotiating with Valentino to take the role left by Piccioli, citing market sources.

Italian newspaper La Repubblica said on Monday that the contract with Michele had already been signed during the weekend, cited sources close to him.

Valentino declined to comment, while Michele could not immediately be reached for comment.

French luxury group Kering, which owns Gucci, bought a 30% stake in Valentino last year from Qatari investment fund Mayhoola with an option to buy the rest in five years.

Most Viewed

 
 
Fashion

Dolce&Gabbana CEO Ready to Open Capital to New Investors

The logo of Italian designers Dolce & Gabbana is seen at a branch office at Bahnhofstrasse shopping street in Zurich, Switzerland September 9, 2020. REUTERS/Arnd Wiegmann
The logo of Italian designers Dolce & Gabbana is seen at a branch office at Bahnhofstrasse shopping street in Zurich, Switzerland September 9, 2020. REUTERS/Arnd Wiegmann
TT
TT

Dolce&Gabbana CEO Ready to Open Capital to New Investors

The logo of Italian designers Dolce & Gabbana is seen at a branch office at Bahnhofstrasse shopping street in Zurich, Switzerland September 9, 2020. REUTERS/Arnd Wiegmann
The logo of Italian designers Dolce & Gabbana is seen at a branch office at Bahnhofstrasse shopping street in Zurich, Switzerland September 9, 2020. REUTERS/Arnd Wiegmann

Dolce&Gabbana is ready to consider opening up its capital to new investors either through a listing or other routes, the Italian fashion house's CEO said.
"We are now ready to consider opening our capital to third parties through a listing or other financial instruments," CEO Alfonso Dolce said in an interview published on Monday in Corriere della Sera's L'Economia weekly supplement.
The financing must "not compromise the ethical value of our company, its respectful growth," said Dolce, brother of Domenico, who founded the group and runs it in partnership with Stefano Gabbana, Reuters reported.
In May, the CEO did not rule out a possible future stock market listing, but said the move was not a priority.
Dolce&Gabbana's revenue for the 2023-2024 fiscal year, which ended in March, was up 17% to 1.871 billion euros ($2.04 billion), said Dolce, adding that he hoped to repeat this growth this year.
The fashion house will open 12 new stores in the US, including at 695 Madison Avenue in New York, the former Hermes location, with more than 2,000 square meters over five floors.
"The United States are vital, we already have 72 stores, plus four in Canada, together they represent 28% of our turnover, compared to 16% in China," said Dolce.