Photo of Prateek Rastogi, Citi collected the award on behalf of Valentino SpA.
Antonio Deluca
Director of Treasury
Italy
Valentino S.p.A. is a renowned Italian luxury fashion house founded in Rome in 1960 by Valentino Garavani and Giancarlo Giammetti. The Company is led by Chief Executive Officer Riccardo Bellini with Creative Director Alessandro Michele.
The collections include Haute Couture, Valentino women’s and men’s ready-to-wear, Valentino Garavani Accessories, Valentino Eyewear and Valentino Beauty by L’Oréal.
in partnership with
The challenge
Before the implementation, Valentino’s boutiques experienced material and recurring operational inefficiencies when receiving customer bank transfers, particularly during high value in store transactions for very important clients (VIC).
Payments were credited to regular accounts, without visibility at boutique level. As a consequence, sales teams depended on the treasury team to confirm receipt in real-time, resulting in frequent delays in goods release and a perceptible impact on the premium customer experience, especially during the weekends.
From a group treasury perspective, the process significantly constrained the organisation’s ability to support commercial execution. Treasury teams were required to continuously search incoming bank statements to identify and allocate customer transfers to the correct boutique and transaction. This reactive activity absorbed a disproportionate amount of operational capacity, increased internal dependencies and limited treasury’s effectiveness as a proactive business partner, especially as transaction volumes expanded across more than 40 European boutiques.
The absence of real‑time visibility created persistent friction between boutiques and treasury, increased internal coordination efforts and diverted sales staff from client facing activities.
The solution
Valentino implemented a cash management solution based on dedicated virtual accounts assigned to each boutique, combined with real-time credit push notifications and automated reporting via CitiDirect.
Each boutique now receives customer bank transfers directly into a dedicated virtual account, enabling immediate and unambiguous identification of incoming funds without reliance on payment references or manual matching. Real‑time credit notifications are automatically delivered via email to both boutique sales teams and group treasury as soon as payments are received.
For sales teams, the treasury-led infrastructure now provides instant payment confirmation, enabling materially faster goods release and allowing boutiques to conclude high value transactions without delay or internal escalation. For group treasury, the use of virtual accounts removes the recurring need to search for and allocate incoming transfers manually: reconciliation becomes automatic, boutique specific and near real‑time.
Best practice and innovation
This solution directly addressing the nuanced needs of Valentino’s EIP client experience.
Innovation is evident in:
Targeted virtual accounts.
Real-time, direct notifications.
API-driven treasury insight.
Best practices include:
Seamless integration.
Reduced manual intervention.
Key benefits
Process efficiencies.
Risk mitigation.
Exceptional implementation (budget/time).
Future-proof solution.
Improved visibility.
Increased automation.
Increased system connectivity.
Manual intervention reduced.
Reduction in errors.
By eliminating a structurally inefficient activity, the treasury transitions from reactive troubleshooting to proactive cash oversight, materially reducing operational workload while strengthening control and transparency. The solution was built on Valentino’s existing CitiDirect infrastructure, enabling rapid deployment with minimal disruption and no additional system access for boutiques.
The result is a scalable, low friction operating model where treasury infrastructure actively accelerates commercial outcomes, rather than constraining them.
By embedding treasury processes directly into the sales flow, the treasury became a measurable driver of commercial performance. The project fully achieved its original objectives by transforming the treasury from a back office support function into a direct enabler of sales execution and customer experience.
The human impact of the solution clearly reflects treasury’s new role as a business enabler. Time previously spent on payment follow-ups is materially reduced and redirected towards client engagement. For group treasury, the removal of manual payment searches fundamentally reshapes day‑to‑day activities.
Ilaria Barone
Cash Sales, Citi Commercial Bank, Italy, Citi
Andrea Di Marco
Relationship Manager, Citi Commercial Bank, Italy, Citi
At Valentino, where every creation is a masterpiece of sartorial elegance, the client experience must be a seamless journey of excellence from start to finish.
From our first conversation, we understood that the manual reconciliation of payments was more than an operational hurdle; it was a point of friction detracting from the seamless service their most valued clients expect. In response, we designed a bespoke cash management framework, seamlessly integrating virtual accounts and real-time notifications. The result is a frictionless process that elevates the customer journey and reinforces the brand’s core promise.
We proudly collaborated with the Valentino treasury team, proving that shared vision delivers truly exceptional, tailored results.
in partnership with
The Adam Smith Awards are the industry benchmark for best practice and innovation in corporate treasury. The 2026 awards attracted 635 nominations. To find out more please visit treasurytoday.com/adam-smith-awards
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