Giambattista Valli has decided not to show during Haute Couture Week

A key moment in the fashion calendar and a typically French phenomenon, Paris Haute Couture Week begins on January 26. Among the designers who are members of this very exclusive club, Italian designer Giambattista Valli decided at the last minute to withdraw. This withdrawal comes amid rumors of the possible departure of his closest financial backer, the Artémis fund.

Initially, Giambattista Valli was to be one of around 30 Haute Couture designers (Chanel, Schiaparelli, Giorgio Armani Privé, Elie Saab, Julien Fournié, Franck Sorbier, Alexis Mabille, Germanier, Ashi Studio, etc.) set to show in Paris from January 26 to 29 to present their spring-summer 2026 collections. The Italian fashion house was even set to open Haute Couture Week on Monday.

But this will not be the case after all.

Artémis, the private investment arm of the Pinault family, the majority shareholder since 2021, has decided to cancel the presentation, officially for organizational reasons. But unofficially for financial reasons, according to investigative media outlet Glitz, which mentions debt inherited by the investment vehicle of the Kering group’s ruling family.

Financial rather than organizational reasons

When contacted by the press, the fashion house reported “a thorough review of the organization of its activities in order to ensure the sustainability of the company.”

In fact, rumors have been circulating for several months about the likely withdrawal of majority shareholder Artémis, the investment vehicle of the luxury group Kering, supported by the investment bank Rothschild & Co. In 2017, the Artémis fund acquired a minority stake in Giambattista Valli, before acquiring a majority stake in 2021 and further increasing its stake last year to 84.78% of the shares.

However, in an article published in the Italian media outlet Il Foglio a few days earlier, it was already reported that this 30th Haute Couture fashion show, scheduled for January 26, could be the last in its current form. Executives quoted by the same newspaper even claimed they did not know whether the company would survive until spring, with outright closure being considered. A sale, which has still not taken place, has reportedly been expected since November. According to the same media outlet, the deadline for finding a buyer willing to replace the Pinault family is set for the end of the month.

The unfavorable data indicates a debt situation that has significantly worsened, rising from approximately €4 million in losses in 2018 to €44.3 million last spring. Last summer, Reuters reported that the consolidated debt of the group (Artemis) amounted to €26.7 billion at the end of 2024, nearly double the amount two years earlier.

This situation echoes the global slowdown in spending that the luxury goods sector and the Kering group have been facing for several months. The increasing cost of financing a fashion show is also a factor in its cancellation. Interviewed by Fashion United in 2025, Caroline Lefrere, founder of the Hermana agency, mentioned a minimum entry fee of €50,000, although these costs can soar to several million for the biggest fashion houses.

Giambattista Valli launched his eponymous brand in 2005, announcing his first ready-to-wear show in Paris. He left Italy to fulfill his dream of founding a true “Maison,” building on his successful experiences with Roberto Capucci, Fendi, and Emanuel Ungaro as Creative Director. The Maison’s Haute Couture turning point came in July 2011, when the Italian designer became an official member of the Chambre Syndicale de la Haute Couture.