Mayhoola for Investments has named former Chloé chief executive Riccardo Bellini as managing director.
In the newly created role, Bellini will work closely with Mayhoolaâs chairman and CEO Rachid Mohamed Rachid to oversee strategy, operations, and development of the luxury groupâs portfolio.
Prior to joining Mayhoola, Bellini held CEO positions at OTBâs Maison Margiela (working with creative director John Galliano) and Richemontâs Chloé.
Mayhoola for Investments is a private luxury group controlled by the Qatari royal family whose brands include Valentino, Balmain, Pal Zileri and Turkish department store Beymen.
The appointment comes at a crucial time for Mayhoola after it sold a third of shares in Valentino to Kering in 2023, with an option for the French group to acquire the brand outright within a few years. The group will now need to translate new designer Alessandro Micheleâs vision into sales as well as steering its other brands through an industry-wide slowdown in order to keep the Kering partnership on track.
Learn more:
Five Key Questions on Kering and Mayhoolaâs Valentino Deal
The French group will pay â¬1.7 billion for 30 percent of the Italian couture house as the first step in a broader partnership with owner Mayhoola. What will the deal mean for Kering, Valentino, Mayhoola and the wider fashion landscape?
