Latest news with #Giammetti
Business of Fashion
4 days ago
- Entertainment
- Business of Fashion
Has Fashion Given Up on Emerging Designers?
Dear BoF Community, ROME and MILAN — This week in Rome, I had the honour of sitting down with Giancarlo Giammetti for an exclusive interview on The BoF Podcast. For those not in the know, Mr. Giammetti first met the designer Valentino Garavani by chance on July 31, 1960, setting in motion one of fashion's most enduring — and most successful — creative partnerships. Together, they built Valentino into a global fashion powerhouse, celebrated for its elegance, craftsmanship and cultural influence. This was a love story and a business partnership, beautifully (and honestly) rendered in Matt Tyrnauer's 2008 documentary, 'Valentino: The Last Emperor.' Mr. Giammetti was refreshingly candid in our conversation, laying bare his thoughts on the state of fashion today, the musical chairs of constant designer shuffles, the egos of designers who want to be bigger than the brands they work for, and most of all, the lack of support for emerging designers. 'How many new brands have been created? I don't know,' he said. 'The last one I remember is [Giambattista] Valli or maybe Jacquemus. Why? I don't think that the big conglomerates want to put money in somebody new. They want to [focus] on their own portfolio, the names that they [already] have. But to invest in one talent? I haven't seen anything.' There was a similar refrain when I chatted with fellow jury members at the Camera Moda Fashion Trust Grant in Milan later in the week. I was busy typing away on my computer at the Fondazione Sozzani, doing a final review of BoF's reporting on Maria Grazia Chiuri's confirmed exit from Dior, when Marco Bizzarri arrived for the judging. He popped over to say hello and we chatted about the dire and uncertain state of the industry. Completely independently of my conversation with Mr Giammetti, he mentioned how concerned he is that the big groups don't seem to be interested in backing young talents. I reminded him that Kering's investments in Christopher Kane and Altuzarra — as well as LVMH's investment in Nicholas Kirkwood — were largely seen as failures. Not because these aren't talented designers with real potential, but because placing small, emerging businesses within the structure of gargantuan luxury groups means they received very little management attention. But I agreed with his point that if we don't support and cultivate emerging talents — even if the groups lose some money on these investments — the creative future of fashion is doomed. LVMH's investment in Jonathan Anderson's label, which coincided with his appointment as creative director of Loewe in 2013, tells a slightly different story. While J.W. Anderson is still a small-ish, loss-making business which did around £30 million in revenues in 2023, according to filings at the UK's Companies House, Loewe is now nearing €2 billion in sales. The business has grown almost tenfold since Anderson took over and everyone is now awaiting the confirmation that he will take over as artistic director of Dior. Not a bad return on that investment. Later, over a plate of pasta after the judging had concluded, Sara Sozzani Maino, who has been spearheading the Fashion Trust for the last few years, threw her hands in the air Italian-style, expressing to me how hard it has been to find financial support from the Italian fashion industry for the trust, which aims to support the new generation of Made in Italy designers. Remo Ruffini and Moncler have been especially supportive, she said, as well as Max Mara, Valentino, Gucci and Pomellato who have supported the Trust for some time. But the vast majority of brands declined to help, offering up a range of reasons from budgets being closed to focusing on their own internal support initiatives. She was asking for just €50,000 per brand. In the absence of this kind of financial support, some of the finalists for the Fashion Trust Grant explained to me that they have to do consulting work for other brands to survive. But this means they have less time to focus on their own businesses and are designing to achieve someone else's ideas, even if in their heart all they want to do is focus on developing their own creative vision. As any seasoned entrepreneur will tell you, it's much harder to succeed at building your own business if it's just a part-time job. At the gala dinner in the evening, my seatmate Carla Sozzani said she is worried that even if the young designers can survive the turbulent market environment, they have nowhere to sell their clothes. The multi-brand retail market in Italy is in turmoil, just as it is in the US and many parts of the world. (Emerging designers in Italy complained to me of the same problems of not getting paid by Saks, Neiman Marcus and Bergdorf Goodman, among others.) What they also need, Sozzani said, is a partner like Mr. Giammetti, who provided a lifeline of support for Mr. Valentino through all of the rigours of building a business from scratch — including a bankruptcy, buying the business back from their first investor and then navigating several waves of different investors who came afterwards, eventually leading Mr. Valentino and Mr. Giammetti to leave the business after the control investors wanted was all too much. Just after our main courses, the three winners selected by the jury — Lessico Familiare, Francesco Murano and Institution — were awarded their €50,000 grants. Then, Maino stepped to the microphone to announce there was a surprise. Winners and Judges at the gala dinner for Camera Moda Fashion Trust. (Courtesy) Marco Bizzarri came on stage to express his passion for Moja Rova, another emerging brand that many of the judges also liked. It was hard for us to choose from so many deserving applicants, so Bizzarri put his money where his mouth is and fronted the €50,000 personally to offer a fourth prize. This is the kind of support we need to see from more of the big players in our industry. As I said to Mr Giammetti at the end of our interview when he turned the tables to ask my opinion, 'I think about the cost that this is going to have on our industry in the future. If we don't nurture smaller creative talents and businesses today, what will fashion look like 10, 20 years from now?' Imran Amed, Founder and Editor in Chief Here are my other top picks from our analysis on fashion, luxury and beauty: 1. Why Blockbuster Deals Are Back in Fashion. In an era of tariffs and turmoil, fashion's boldest players are placing billion-dollar bets — and finding bargains in a high-risk, high-reward wave of M&A. In an era of tariffs and turmoil, fashion's boldest players are placing billion-dollar bets — and finding bargains in a high-risk, high-reward wave of M&A. (Courtesy) 2. Hello, Goodbye: Maria Grazia Chiuri's Next Chapter. If there was 'beautiful confusion' in the mix of cruise and couture the powerhouse designer paraded in Rome on Tuesday night, the standing ovation at the end of the show left little doubt she was saying goodbye to Dior after a transformational near-decade tenure and hello to her next act, resurrecting the storied Teatro della Cometa. Dior designer Maria Grazia Chiuri staged an elaborate runway spectacle at the Villa Albani Torlonia in her hometown of Rome on Tuesday night. (Getty Images) 3. Can Jewellery Continue to Outshine Fashion? As leather goods lose their cool amid rising prices and quality concerns, fine jewellery is emerging as luxury's shining star. Jewellery giants like Cartier continue to steer clear of the post-pandemic price hikes implemented by many fashion brands. (Cartier) 4. Why Food Is Everywhere in Fashion Advertising. As foodie culture peaks and the cost of living rises, food is popping up more than ever in fashion imagery. Fashion's latest marketing obsession is food. (BoF Collage) 5. David Bailey, Immortal. A new exhibition aims to prove the iconic photographer's claim to everlasting impact rests on more than his portraits from Sixties London, writes Tim Blanks. David Bailey and Madge. (© David Bailey) This Weekend on The BoF Podcast The author has shared a YouTube video. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. In this exclusive interview, Mr. Giammetti reflects on the founding days of Valentino, the importance of protecting creativity in a fashion market that prioritises commercialisation, and why it is critical for the industry to support future generations of designers who are overlooked by a fashion system under pressure. 'This continuous change of people, using people to cover jobs … it makes a big confusion. None of them really becomes a part of the legacy of the company. That's what is a big problem today,' says Giammetti. To receive this email in your inbox each Saturday, sign up to The Daily Digest newsletter for agenda-setting intelligence, analysis and advice that you won't find anywhere else.
Business of Fashion
4 days ago
- Business
- Business of Fashion
Giancarlo Giammetti on Securing Valentino's Legacy
Listen to and follow the 'BoF Podcast': Apple Podcasts | Spotify | Overcast Background: Giancarlo Giammetti met Valentino Garavani by chance on July 31, 1960, setting in motion one of fashion's most enduring — and most successful — creative partnerships. Together, they transformed Valentino into a global fashion powerhouse, celebrated for its elegance, craftsmanship and cultural influence. In 2016, Giammetti co-founded the Fondazione Valentino Garavani e Giancarlo Giammetti to preserve their remarkable legacy, promote creativity and foster charitable initiatives. This week in Rome, BoF founder and CEO Imran Amed had the honour of sitting down with Mr. Giammetti at PM23, the newly opened home of the foundation, located right next to the Valentino headquarters where their journey together first began. In this exclusive interview, Mr Giammetti reflects on the founding days of Valentino, the importance of protecting creativity in a fashion market that prioritises commercialisation and why it's critical for the industry to support future generations of designers who are overlooked by a fashion system under pressure. 'This continuous change of people, using people to cover jobs … it makes a big confusion. None of them really becomes a part of the legacy of the company. That's what is a big problem today,' says Giammetti. Key Insights: Giammetti highlights the strength of his decades-long partnership with Valentino, emphasising their deep personal and professional connection. 'We grew up related so much to each other that we cannot be separate,' he says. 'Even when we had some rupture in our private life, after a while, we kept our family. That's why we have such a big family — because all of our friends became friends of our family with us.' Giammetti expresses concern about the fashion industry's current state, noting the disconnect between creative integrity and business pressures. 'Designers have become their own stars, they have their own style, and they don't want to really become a witness to the work of the companies where they are hired to prolong life – they want to work for themselves,' he says. Giammetti believes in preserving the heritage of fashion through new means. 'I hate fashion museums. I think that to see all the mannequins like Madame Tussauds look really like wax things. I don't think there is a life inside,' he says. 'With digital work, you have to work with that to project your legacy in a different way.' Giving advice to aspiring creatives, Giammetti encourages young designers to remain true to themselves and avoid distractions. 'Be yourself. Don't get distracted. You have to believe in yourself and do what you want.' The author has shared a YouTube video. You will need to accept and consent to the use of cookies and similar technologies by our third-party partners (including: YouTube, Instagram or Twitter), in order to view embedded content in this article and others you may visit in future. Additional Resources:
Yahoo
25-05-2025
- Entertainment
- Yahoo
Billy Ray Cyrus and Elizabeth Hurley Stylishly Make Their Red Carpet Debut as a Couple in Rome
Billy Ray Cyrus and Elizabeth Hurley made their red carpet debut as a couple on Saturday, May 24 The country music star, 63, and the actress, 59, stepped out to a dinner celebrating the opening of the Orizzonti/Rosso exhibition at Palazzo Barberini in Rome, Italy The pair first sparked romance rumors in April when Cyrus posted a photo on Instagram of them kissing as they celebrated Easter togetherBilly Ray Cyrus and Elizabeth Hurley are having a Roman holiday! The country music star, 63, and the actress, 59, made their red carpet debut as a couple in the Italian capital on Saturday, May 24 — and they did it in style. The pair stepped out to a dinner celebrating the opening of the Orizzonti/Rosso exhibition, staged by the Fondazione Valentino Garavani e Giancarlo Giammetti, at Palazzo Barberini. They were both glamorously dressed for the occasion, with Hurley making a striking statement in a bright pink, curve-hugging gown featuring a plunging neckline and dramatic trailing sleeves. Perhaps giving a little nod to her Austin Powers role, she wore '60s-inspired silver platform sandals. She wore her hair down, styled in soft waves, and accessorized with a pair of statement earrings. Cyrus, meanwhile, sported his signature rocker edge in a pair of tight-fitting black pants detailed with silver medallions along the leg and a black jacket with leather accents. He topped off his look with a western hat, sunglasses and boots. The couple was joined by Hurley's 23-year-old son Damian, who wore a red suit and sunglasses. Hurley shared a photo from the couple's night out on her Instagram on Saturday, along with the simple caption "Roma 💞💞💞💞." The pair's red carpet debut comes just days after a source told PEOPLE that Hurley "doesn't care" that fans don't understand her romance with the "Achy Breaky Heart" singer. 'Liz doesn't care that skeptics don't get it. She's focused on the special things that they have in common, like country music,' the source said. 'She loves his Southern vibes. He's very calm and happy around her.' 'They have great energy together. She very much enjoys his company," the insider added, noting that Hurley and Cyrus plan to spend her 60th birthday together on June 10. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. The two stars first sparked romance rumors in April when Cyrus posted a photo on Instagram of them kissing as they celebrated Easter together in Tennessee. A source later told PEOPLE that Hurley "spent a beautiful couple of weeks in Tennessee with Billy Ray" before returning to the U.K. "She loved being surrounded by nature in a more laid-back environment. She had a great time with Billy Ray," the insider said. The pair first met while filming the 2022 holiday movie Christmas in Paradise on the Caribbean island of Nevis, and recently reconnected. While appearing on Apple Country Music's The Ty Bentli Show last month, Cyrus confirmed their romance and recalled how "there was a chemistry there" when he and Hurley were filming scenes together. "We just laughed, and it was at a time I wasn't laughing a lot," he said. "The oddest part was first, how much we laughed. Second, I figured we were so different, but in some very strange way we had way more in common than we had different," Cyrus added. is now available in the Apple App Store! Download it now for the most binge-worthy celeb content, exclusive video clips, astrology updates and more! The musician said Hurley reached out to him during a difficult time when he found himself questioning, "Wow, can life get any harder? Can it get any tougher?" He was dealing with several hardships, including his divorce from Firerose. "And in this moment... a friend reached out," Cyrus recalled, referring to Hurley, whom he described as a "great human being." 'It's a long time since I've been this happy,' he noted. Read the original article on People
New York Post
20-05-2025
- Entertainment
- New York Post
Valentino co-founder Giancarlo Giammetti asks $17.5M for his NYC penthouse — boasting a leopard-print master suite
A fashion industry titan is parting ways with a sky-high New York City residence. Giancarlo Giammetti, co-founder of the legendary Valentino fashion house, has listed his Sutton Place-area penthouse for $17.5 million, according to a Monday release. This price is already set at a loss, since Giammetti purchased the unit back in 2010 for $18.5 million, property records show. Giammetti, 83, founded Valentino at age 18 with Valentino Garavani in 1960 — the year they met. Valentino, an Italian fashion house, has long been synonymous with luxury. Its garments have adorned the likes of A-listers for years — including Anne Hathaway, Jennifer Lopez and Lizzo. Needless to say, this penthouse perch doesn't shy from high style. Set on the 54th floor of One Beacon Court — a gleaming tower designed by architect César Pelli and known for its private motor court and panoramic skyline vistas — the apartment offers sweeping views that span Central Park to the East River. 13 Giancarlo Giammetti, Soko at the Valentino Haute Couture Spring/Summer 2025 fashion show as part of Paris Couture Fashion Week on January 29, 2025 in Paris, France. WWD via Getty Images 13 The New York City penthouse of Giancarlo Giammetti, co-founder of the Valentino fashion house, has hit the market for $17.5 million. Yoo Jean Han Made up of three bedrooms and 3.5 baths, the corner unit occupies one of the building's most desirable positions, with nearly every room lined in floor-to-ceiling glass and — that said — is flooded with natural light. The residence was customized by renowned French interior designer Jacques Grange, a longtime collaborator of Giammetti's and a favorite of the international fashion and art elite. Inside, the home spans approximately 3,800 square feet — anchored by a 77-foot stretch of interconnected formal living, dining and library spaces ideal for entertaining on a grand scale. A rectangular entrance gallery sets a stately tone on arrival. 13 The foyer. Yoo Jean Han 13 The aerie offers unobstructed views of Central Park. Yoo Jean Han 13 Located on the 54th floor of One Beacon Court, the residence occupies 3,779 square feet. Yoo Jean Han The primary suite is positioned to maximize the Central Park views, with a spacious 29-by-15-foot bedroom, a spa-inspired marble bath and a dressing room outfitted with extensive built-ins. Two guest bedrooms, each with an ensuite bath, sit in a private wing. A sleek kitchen by Poggenpohl features top-tier appliances and a cozy breakfast nook with east-facing morning light. Additional highlights include a guest powder room, a laundry room, plus three separate entrances to accommodate residents, staff and guests alike. 13 The penthouse boasts 40 floor-to-ceiling windows and soaring ceilings. Cary Horowitz 13 The kitchen. Yoo Jean Han 13 The primary bedroom. Yoo Jean Han 13 An ensuite bathroom. Yoo Jean Han Giammetti spared no expense during the renovation, which incorporated motorized shades, museum-quality lighting and an audiophile-level sound system. According to the listing, the apartment is move-in ready and designed for effortless daily living with a luxury aesthetic. One Beacon Court, which rises above the Bloomberg Tower near 58th Street and Lexington Avenue, has long attracted celebrity and business world buyers thanks to its privacy, security and panoramic views. 13 A walk-in closet. Yoo Jean Han 13 A second bedroom. Yoo Jean Han 13 One of 3.5 bathrooms. Yoo Jean Han 13 Valentino was founded in 1960. Getty Images Past residents have included Beyoncé and Jay-Z, Mets billionaire owner Steve Cohen and former General Electric CEO Jeff Immelt. Allison Bandier Koffman and Juliette Janssens of Sotheby's International Realty, and Martha Kramer of Brown Harris Stevens, hold the listing.
