Core Viewpoint - The passing of Valentino Garavani, the founder of the Valentino brand, marks a significant loss for the fashion industry, following the recent death of another Italian fashion icon, Giorgio Armani [1][3]. Group 1: Valentino's Legacy - Valentino Garavani was a prominent figure in Italian fashion, known for creating iconic pieces for celebrities such as Princess Diana and Audrey Hepburn, and his signature "Valentino Red" became a staple on red carpets [3][4]. - The brand expanded from haute couture to ready-to-wear, accessories, and fragrances, symbolizing Italian craftsmanship and artistry [3][4]. - Valentino's retirement in 2008 followed a successful career spanning over 45 years, during which he emphasized that haute couture is an art rather than a business [6][10]. Group 2: Brand Ownership and Financial Performance - In 2012, Valentino was acquired by Mayhoola, a Qatari investment firm, and in 2023, Kering, the parent company of Gucci, purchased approximately 30% of the brand for about €1.7 billion, with an option to acquire the remaining shares by 2029 [10][12]. - Valentino's revenue for 2024 is projected to be €1.311 billion, reflecting a year-on-year decline of 2.74%, with a total decrease of approximately €107 million since 2022 [10][12]. - The brand's mid-range positioning may make it more sensitive to demand fluctuations, particularly in key markets like China and the U.S., where consumer spending has weakened [10][12]. Group 3: Future Developments - Alessandro Michele, former creative director of Gucci, joined Valentino as the new creative director in April 2024, bringing a fresh perspective to the brand [12]. - Valentino's beauty products, developed in partnership with L'Oréal since 2019, have faced challenges in a competitive market, leading to a planned exit from the South Korean market by the end of 2025 [12].