Valentino has appointed a new chief executive officer for its Japan and Korea markets. Tokyo-based Masumi Shinohara will report to the company’s chief commercial officer Marco Giacometti, and will be tasked with growing the brand in two of its key Asian territories.
Shinohara is an industry stalwart, having previously been a director at Ermenegildo Zegna Japan, as well as L’Oréal and LVMH-owned Berluti.
According to WWD Shinoahara is tasked with leading Valentino’s expansion in Japan and Korea by strengthening relationships with department stores and assessing new openings and relocations, as well as developing digital projects in line with the brand’s client-centric strategy.
Valentino currently operates 31 stores in Japan and 15 in Korea. A further six self-operated stores are planned to open in Korea in the next six months.
Qatari investment vehicle Mayhoola, Valentino’s parent company, has been boosting its C-suite under the lead of ceo Jacopo Venturini, named to the role last June and succeeding Stefano Sassi, said WWD.
Asian expansion is a pillar to Valentino’s growth, which earlier this year appointed a ceo for Greater China. Other appointments include a new head of human resources and chief client officer.
Valentino saw an uptick in sales in the last quarter of 2020 after a difficult pandemic year. For its full year results the company posted a decline of 27 percent in comparison to 2019, despite a 77 percent increase in e-commerce sales.