Givenchy has been without a creative director since December 2023, when Matthew Williams exited the French couture house after a three-year tenure, leaving the brand to rely on collections designed by its studio team.
Now, Givenchy is opening a ânew chapterâ with the appointment of CEO Alessandro Valenti, most recently Louis Vuittonâs EMEA president, who is succeeding former chief Renaud de Lesquen, effective immediately, according to parent company LVMH.
The group has long had big ambitions for Givenchy, but in recent years, the brand has underperformed, failing to keep pace with stablemates like Celine and Loewe, which have generated rapid growth, becoming mega-brands in the making.
Valentiâs âextensive knowledge of the luxury industry, including more than ten years at Louis Vuitton, coupled with his retail expertise and managerial skills, will be key assets in taking Givenchy to reach new milestones,â said Sidney Toledano, chairman of Givenchyâs board and former CEO of LVMHâs Fashion Group, who recently returned to key duties at the unit.
Valenti is expected to work with Givenchyâs next creative director to re-energise the brand, a task that may prove challenging in a cooling luxury market. LVMH reported first-quarter sales up just 3 percent on an organic basis, confirming fears that luxuryâs post-Covid boom has stalled.
Disclosure: LVMH is part of a group of investors who, together, hold a minority interest in The Business of Fashion. All investors have signed shareholdersâ documentation guaranteeing BoFâs complete editorial independence.
