Valentino at a Crossroads: The Death of a Legend, and the House’s New Chapter

Valentino Garavani, the designer who built a global couture house from a Roman studio, died on January 19, 2026, at the age of 93. His death closes a chapter that began in 1959 with the founding of Maison Valentino and extends into a present where the brand he created is undergoing rapid change, from a high profile creative handover to notable financial strain and a new executive team.

A quick snapshot, and why it matters

In recent years the house has moved through important transitions. Alessandro Michele became creative director effective April 2, 2024, bringing a very different creative language to Valentino. Riccardo Bellini took over as chief executive officer, effective September 1, 2025, charged with steering the company through a tougher market. Financially, Valentino reported full year 2024 revenues of about €1.31 billion, an operating measure of profit that fell roughly 22 percent to €246 million, and net debt levels cited at around €1.08 billion at the end of 2024. Those figures are now part of a public discussion about strategy, balance sheet flexibility, and the future of Roman couture.

Legacy first, then reinvention

The man and the myth

Valentino Garavani built a career on a clear idea of beauty, craftsmanship, and spectacle. He made the shade known as Rosso Valentino famous, dressed royalty and movie stars, and kept couture at the center of a brand that expanded into ready to wear, accessories, and global retail. His public persona, and his partnership with Giancarlo Giammetti, shaped both the creative output and the business behind it. Tributes since his death have framed him as an architect of 20th century glamour, and as a touchstone for how luxury can be both art and industry.

"Valentino was an undisputed master of style and elegance, and an eternal symbol of Italian high fashion."

This tribute, echoed across fashion circles and political leaders, captures what the house represents to many: a particular, enduring kind of glamour.

The challenge of inheritance

That legacy also creates constraints. In recent seasons the house has had to ask whether traditional codes of elegance can coexist with the brash, eclectic language introduced by its new creative director. Some industry observers welcome a bold rethinking, others fear the loss of the brand’s signature refinement. The conversation is not simply aesthetic, it is commercial, because consumers and retailers react fast when a well known identity shifts.

Creative direction: Alessandro Michele’s task

Alessandro Michele arrived at Valentino with a reputation for theatricality and maximalism from his time at Gucci. His brief is to translate the maison’s couture heritage through his sensibility, while keeping clients who buy into Valentino’s established codes.

Supporters say Michele can refresh the brand while respecting craftsmanship, and that his appointments and design experiments could attract younger, culturally engaged buyers. Skeptics note that radical stylistic shifts risk alienating long term clients, and that rebuilding wholesale and retail relationships takes time.

What to watch in the collections

• Balance between couture codes, and Michele’s more eclectic motifs
• How Valentino positions its signature red in new collections
• Collaborations and capsule pieces designed to broaden reach without diluting the core

Business reality: numbers, debt, and shareholders

Valentino’s recent results exposed structural pressure. The 2024 financial statements showed a slight fall in revenue, a more marked decline in operating profit, and elevated leverage following expansion and financing activities. The company secured a sizable loan package in 2024, and later entered talks with banks after breaching a covenant in 2025.

Those numbers explain why management moves and shareholder agreements have taken on new urgency. The brand is majority owned by Mayhoola, a Qatari investment vehicle, while Kering holds a significant minority stake and board representation. In September 2025 Kering and Mayhoola amended elements of their agreement, effectively pushing some option timelines into later years, and signaling a collaborative approach to the house’s next stage.

Multiple viewpoints

• Brand executives and some investors argue that the creative reset and targeted distribution will restore margin and desirability, calling for patience while strategic investments pay off.
• Financial analysts and lenders have been more cautious, pointing to weakening demand in key markets, elevated leverage, and the practical challenges of changing retail and wholesale mixes.
• Long time clients and traditionalists worry the house may drift from the exacting couture codes that made Valentino an icon, while a younger cohort of buyers is curious to see whether fresh creative energy can modernize the brand without erasing its identity.

The cultural ripple: why Valentino’s passing matters beyond business

Valentino was not just a designer, he was a cultural symbol. His death is prompting museums, editors, and institutions to reexamine the role of Italian couture in global fashion history. Retrospectives and memorials are likely, and the maison’s brand communications will in the short term emphasize craftsmanship, archive highlights, and continuity.

What comes next, practically speaking

• Short term: public tributes and a period of mourning will overlap with ongoing business planning, product launches, and runway calendars.
• Medium term: management aims to stabilize the balance sheet, rebalance wholesale relationships toward more selective partners, and grow direct retail and e commerce channels.
• Creative track: Michele’s collections over the coming seasons will be the clearest signal of how the maison blends new ideas with couture heritage.

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Timeline (selected dates)

• 1959: Maison Valentino founded in Rome
• April 2, 2024: Alessandro Michele named Creative Director
• September 1, 2025: Riccardo Bellini became CEO
• September 10, 2025: Kering and Mayhoola amend shareholders agreement
• January 19, 2026: Valentino Garavani dies aged 93
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A final note on names

"Valentino" can mean different things to different audiences. For many, it is the Roman couture house founded by Valentino Garavani. For others, the name evokes unrelated figures, including the Italian motorcycle legend Valentino Rossi. This piece focuses on the fashion house and its founder, whose death on January 19, 2026, brings both a moment of remembrance and a fresh test for the company that bears his name.

Valentino the brand now faces a twofold task, honoring a singular legacy, and proving that a historic maison can adapt to new creative currents and tighter financial realities. The next few seasons will tell whether that balance can be struck.