Mayhoola Is Beefing Up Management With Riccardo Bellini, Managing Director

Signaling a deepening dedication to the business, Mayhoola has employed veteran vogue and luxurious govt Riccardo Bellini as its new managing director, WWD has realized.

Greatest recognized for latest stints as chief govt officer of Chloé and Maison Margiela, Bellini quietly took up the place on the funding entity earlier this month.

It’s a brand new function at Qatar-based Mayhoola, proprietor of Valentino, Balmain, Pal Zileri and the Turkish retailer Beymen, the place Bellini can flex his muscle tissue as a builder of manufacturers, motivator of groups, and trailblazer of recent enterprise fashions.

He experiences to Rachid Mohammed Rachid, chairman and CEO of Mayhoola, and is charged with creating the 4 firms in its present portfolio — and maybe ones that is perhaps added in future.

“We’re constructing a extra strong group,” Rachid mentioned. “I sit up for working with Riccardo in his function and to additional strengthening our manufacturers. I’m assured that Riccardo’s management type and intensive vogue and luxurious expertise will likely be instrumental to Mayhoola’s steady success.”

In an announcement, Mayhoola mentioned Bellini would assist Rachid in overseeing “the strategic and operational actions of Mayhoola’s luxurious model portfolio.”

“This newly created place will play a vital function in shaping group actions, supporting manufacturers to boost efficiency, fostering expertise improvement, and figuring out progress alternatives — all whereas safeguarding the distinctive identification and strengths of every model,” the corporate added.

The appointment echoes the construction of Europe’s key luxurious teams, which have put in high-powered coaches and enterprise builders to supervise a number of manufacturers, similar to Philippe Fortunato, CEO of Trend & Equipment Maisons at Richemont, and Francesca Bellettini, Kering’s deputy CEO in control of model improvement.

Bellini will likely be primarily based between Milan and Paris as he reshapes and drives efficiency at Mayhoola’s numerous properties, with the flagship Valentino model present process a inventive reinvention beneath designer Alessandro Michele, who will make his debut at high fashion later this month, and Balmain getting into a brand new improvement chapter alongside a push into magnificence with Estée Lauder Cos.

“I’m grateful and excited to have the ability to work with Mr. Rachid,” Bellini instructed WWD. “He’s such an inspiring chief. His sharp enterprise acumen, knowledge and strategic imaginative and prescient are a singular present for me to be impressed and importantly to proceed to be taught and develop. “

Since exiting Chloé in December 2023, Bellini has been quietly consulting with various luxurious and vogue gamers — and visibly for Mayhoola, even attending Balmain and Valentino vogue exhibits not removed from the elbow of Rachid.

He’s additionally an lively member of the style job power of the Sustainable Market Initiative alongside Federico Marchetti and King Charles III to push the sustainability agenda ahead.

A pensive, but ebullient govt who regularly collaborates with sociologists to delve deeply into model DNA, Bellini left an indelible mark on Chloé, devising a brand new enterprise mannequin primarily based on goal, sustainability and accountability. Throughout his 4 years as president and CEO of the French maison, the Italian govt famously recruited designer Gabriela Hearst to fast-track Chloé’s eco ambitions all the way in which to B Corp standing — and drive the enterprise ahead, with revenues rising roughly 60 p.c within the first two years of their partnership.

He additionally discovered Hearst’s successor, Chemena Kamali, who has acquired enthusiastic opinions for her interpretation of the model spirit and DNA.

Bellini had joined Chloé from Maison Margiela, the place he spent three years as CEO, having risen by way of the ranks of OTB, the Italian vogue group managed by Renzo Rosso. At Margiela, it’s understood revenues greater than doubled throughout his tenure.

Previous to Margiela, Bellini was govt vp of branding at Diesel and Diesel Black Gold and chief advertising and marketing officer at Diesel.

The Italian govt began his profession at Procter & Gamble Co., transitioning from magnificence to a fruitful profession in vogue.

It’s understood Bellini was drawn to Mayhoola’s long-term method to worth creation, and his sturdy complicity with Rachid.

Mayhoola, an funding car linked to the royal household of Qatar, swept in and purchased Valentino in 2012, including Pal Zileri in 2014, and Balmain in 2016.