Latest news with #GiancarloGiammetti
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:
South China Morning Post
26-05-2025
- Entertainment
- South China Morning Post
Inside PM23, Valentino Garavani and Giancarlo Giammetti's new exhibition space in Rome, designed to nurture future creatives: its inaugural show pays tribute to Valentino's signature colour
Since its inception in 2016, the Fondazione Valentino Garavani e Giancarlo Giammetti has quietly championed charitable causes, lending support to families in need, and backing special projects at Rome's Bambino Gesù Hospital and Policlinico Gemelli. Now, this philanthropic endeavour is stepping into the spotlight with the grand opening of the foundation's new cultural hub, marking a significant milestone for the organisation and its founders. PM23 is a new exhibition space in Rome, founded by Valentino Garavani and Giancarlo Giammetti. Photo: Handout Nestled in Rome's historic Piazza Mignanelli, just a stone's throw from the iconic Valentino atelier, the foundation's new home, PM23, is a former school and printing house once belonging to Propaganda Fide – now transformed into a space set to become a vibrant international hub for arts, fashion and culture. Advertisement During the filming of Matt Tyrnauer's 2008 documentary on his life, Valentino: The Last Emperor, Garavani famously said, 'I love beauty; it's not my fault.' Far more than just an exhibition space, PM23 is conceived as a platform designed to nurture emerging talents and champion artistic projects that echo the founders' enduring philosophy: 'Beauty creates beauty.' Jeff Koons' Balloon Venus Lespugue welcomes guests to PM23. Photo: Handout The inaugural exhibition, 'Horizons/Red', pays homage to the bold colour that has become synonymous with Valentino since the designer's debut collection in 1959 . Having opened to the public on May 25, the showcase brings together 30 artworks on loan from institutions, private collectors, as well as Valentino and Giammetti's own collection, featuring works by luminaries such as Pablo Picasso Andy Warhol and Jean-Michel Basquiat, among others. All this sits alongside 50 archival dresses in Valentino red. Setting the tone for the exhibition, American artist Jeff Koons' Balloon Venus Lespugue, a vivid red sculpture, welcomes guests at the entrance. In an announcement about the foundation's new project, Garavani and Giammetti said: 'We believe beauty has the power to elevate, transform and leave an indelible mark on people's lives. Through the foundation, we wish to share and give back to the world what beauty has given us, by supporting talent, creativity and culture, ensuring they remain a source of inspiration just as they have been for us. We firmly believe that fostering talent, promoting culture and helping those in need are tangible ways to make the world a better place.' PM23 is currently showcasing 50 archival dresses, all in Valentino red. Photo: Handout PM23's ambition to be a cornerstone for creativity and innovation is reflected in the foundation's goal of hosting one or two major exhibitions each year. These will be complemented by workshops and competitions aimed at empowering the next generation of creatives, with the space set to become an arena for artistic exploration and social engagement.
Vogue
22-05-2025
- Entertainment
- Vogue
The New Fondazione Valentino Garavani and Giancarlo Giammetti Is Every Bit as Chic and Glamorous as You'd Expect
The magnum opus of a lifelong creative partnership, the Fondazione Valentino Garavani and Giancarlo Giammetti opens its doors to the public for the first time in Rome's Piazza Mignanelli on May 22. Conceived as a way to preserve and share the legacy they have built, the foundation reflects their unerring dedication to a cultivated interpretation of beauty, their passion for art, and engagement in philanthropy. Located right next to the halls of the Valentino atelier, it's housed in a former Vatican school and printing house for Propaganda Fide, the Holy See's dicastery for the propagation of the faith. With the election of a new Pope, the Vatican is definitely having a moment, but this is less divine intervention than divine design. Polished to celestial gleam and christened PM23 (after its chic address: 23 Piazza Mignanelli), the newly reborn space is poised to become Rome's latest cultural altar. It will debut with a high-gloss exhibition titled 'Horizons—Red,' curated by style-savvy scholar Pamela Golbin, who edited the archival fashion pieces, with art historian Anna Coliva overseeing the selection of artworks. While the cardinal-red nod to apostolic grandeur feels timely, red is, of course, Valentino's holy grail—a signature so iconic it deserves its own Pantone. 'It's a dialogue between a color that stands as an oeuvre in its own right within Mr. Valentino's body of work, and a selection of artworks in which red becomes the lens through which each artist reveals their poetic vision,' remarked Golbin. Unlike the Pinault or Arnault foundations, which primarily showcase private collections, the Fondazione Valentino Garavani and Giancarlo Giammetti charts a different course: it will host not only exhibitions, but also workshops, talks, and cultural activations, open to diverse voices, disciplines, and communities. In a rarefied correspondence between haute couture and fine art, Valentino's legendary red dresses are displayed amid a curated constellation of modern and contemporary masterpieces on loan from institutions, private collectors, and from Giammetti and Valentino's own acquisitions, featuring works by Jeff Koons, Gerhard Richter, Helen Frankenthaler, Picasso, Rothko, and Basquiat, among others. 'There are many exhibitions about art and fashion today, but they're not always about dialogue,' observed Golbin. 'Here, we've taken a theme central to Mr. Valentino's legacy, inviting both disciplines to respond.'
