Valentino Garavani stepped back in 2008, handing the creative reins to Maria Grazia Chiuri and Pierpaolo Piccioli. That partnership defined a specific era of red-carpet glamour and intricate tailoring. Then the chairs turned. Chiuri moved to Dior in 2016. Piccioli stayed until 2024, eventually joining Balenciaga as creative director in 2025. Alessandro Michele arrived to take over, signaling a sharp shift in aesthetic direction.
Which companies actually own the Valentino fashion house
The money trail is just as interesting as the fashion. Valentino himself sold the brand to the Italian conglomerate HdP in 1998 for approximately $300 million. He kept designing for another decade, but the business model had shifted.
Since then, the house has changed hands multiple times.
– Marzotto Group acquired it in 2002. They are a family-owned textile manufacturer, not a luxury brand competitor.
– Permira bought the rights in 2007. This was a private equity firm looking for financial returns.
– Mayhoola took over in 2012. This Qatari investment company is managed by the royal family, bringing massive capital and global reach.
Why Kering’s 30 percent stake matters now
In 2023, Kering stepped in. The French luxury conglomerate purchased a 30 percent stake in the company. They are not just passive investors. Kering has stated plans to acquire the full house by the end of the decade.
This changes the dynamic entirely. Kering already owns Gucci, Saint Laurent, and Bottega Veneta. They have the infrastructure to handle global marketing, retail expansion, and supply chain management at a scale few rivals match.
The shift from private equity to a luxury group signals a move toward brand consolidation rather than quick financial exits.
How will this affect the designs under Alessandro Michele? We will see. The ownership structure suggests stability and long-term investment, but the creative direction remains the biggest variable. For now, the red Valentino dress is still the icon, but the business behind it is playing a different game.
