Valentino has named luxury industry veteran Riccardo Bellini as its new chief executive, marking a major leadership shift as the fashion house navigates a challenging global market.
Bellini, who joins from parent company Mayhoola, succeeds Jacopo Venturini following his departure last week.
The move comes during widespread changes in leadership and creative direction across the fashion industry, with key markets in the U.S. and China experiencing a downturn.
Bellini, who previously led Maison Margiela and Chloé and held senior roles at Diesel and Procter & Gamble.
"I am honored to join Valentino, an iconic maison that blends extraordinary heritage and craftsmanship with a unique creative voice," Bellini said in a statement.
He will work closely with creative director Alessandro Michele, who joined the maison last year, to guide the brand through its next chapter.
Valentino, founded in Rome in 1960, is part-owned by French luxury group Kering, which acquired a 30% stake in 2023 for €1.7 billion with plans to fully take over by 2028.
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China’s Ministry of Commerce announced on Friday that it will introduce a licensing system for steel exports starting in 2026, covering around 300 steel products.
Venezuela’s oil shipments have plunged following the United States’ seizure of a tanker earlier this week.
The Kremlin on Friday dismissed proposals for a ceasefire to allow a territorial referendum in Ukraine, describing any pause in hostilities as a tactical ploy rather than a genuine step toward ending the conflict.
Japan has lifted a tsunami advisory issued after an earthquake with a magnitude of 6.9 hit the country's northeastern region on Friday (12 December), the Japan Meteorological Agency (JMA) said. The JMA had earlier put the earthquake's preliminary magnitude at 6.7.
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as six crude oil tankers and shipping companies linked to them, as Washington ramps up pressure on Caracas.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
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Iceland is has become the fifth country to withdraw from the 2026 Eurovision Song Contest.
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