Giovanni Morelli has joined the design team of the Italian luxury group, owned by Mayhoola for Investments. Valentino ended fiscal 2017 with a turnover of 1.16 billion euros, a 5% increase over the previous year.
Valentino appoints a creative director for its accessories’ line. The Italian luxury group, owned by Mayhoola for Investments, has recruited Giovanni Morelli to lead the division’s design area.
Morelli has extensive experience in the luxury sector. The designer was at the helm of Stuart Weitzman’s creative department and has also collaborated with LVMH companies such as Loewe, Marc Jacobs and Chloé.
At Valentino, Morelli will report to Pierpaolo Piccioli, global creative director of the Italian company, according to Pambianco News. In parallel, the group has lost its marketing head, Isabelle Harvie-Watt, for which it hasn’t found a replacement yet.
Valentino ended fiscal 2017 with a turnover of 1.16 billion euros, a 5% increase over the previous year. Earnings before interests, taxes and depreciations (ebitda) went down by 7.7% to 190 million euros. Coinciding with the annual results presentation, the Italian company canceled its plans to go public until further notice.