Mayhoola Is Beefing Up Management With Riccardo Bellini, Managing Director

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

Finest identified for current 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 muscular tissues 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 may be added in future.

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

In a press release, Mayhoola mentioned Bellini would help Rachid in overseeing “the strategic and operational actions of Mayhoola’s luxurious model portfolio.”

“This newly created place will play an important function in shaping group actions, supporting manufacturers to boost efficiency, fostering expertise growth, and figuring out development alternatives — all whereas safeguarding the distinctive id 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, equivalent to Philippe Fortunato, CEO of Trend & Equipment Maisons at Richemont, and Francesca Bellettini, Kering’s deputy CEO in command of model growth.

Bellini will probably be based mostly 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 underneath designer Alessandro Michele, who will make his debut at high fashion later this month, and Balmain coming into a brand new growth 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 informed WWD. “He’s such an inspiring chief. His sharp enterprise acumen, knowledge and strategic imaginative and prescient are a novel 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 a variety of luxurious and trend gamers — and visibly for Mayhoola, even attending Balmain and Valentino trend reveals not removed from the elbow of Rachid.

He’s additionally an lively member of the style activity 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 incessantly collaborates with sociologists to delve deeply into model DNA, Bellini left an indelible mark on Chloé, devising a brand new enterprise mannequin based mostly on objective, 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 evaluations 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 via the ranks of OTB, the Italian trend group managed by Renzo Rosso. At Margiela, it’s understood revenues greater than doubled throughout his tenure.

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

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

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

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