06 September 2007

Fashion Designer Valentino announces he will retire next year

LONDON: In a dramatic gesture on the eve of the international fashion collections, Valentino, with his partner, Giancarlo Giammetti, announced Tuesday that both would resign from the Valentino company in early 2008.

The news ended speculation that has buzzed around the fashion house since a star-studded gala in Rome in July celebrating the iconic Italian couturier's 45 years in the business.

Valentino, 75, said he would leave the company he founded with Giammetti in the early 1960s after his ready-to-wear show in Paris in October and his couture collection next January.

Calling the anniversary celebrations "a moment of infinite magic and tremendous joy," Valentino said that this seemed "the perfect moment to say adieu to the world of fashion."

"My future will be filled with new interests and challenges," he said in a statement. "Some may be linked to fashion, as I have a strong desire to create and support institutions to promote the study of fashion design, and to preserve the history of the art of fashion."

Valentino Garavani, who was trained in Paris, ultimately rose to the dizzying heights of Italian haute couture and has become a fashion legend.

He dressed the famous, from Jacqueline Kennedy Onassis to Sophia Loren, and a slew of young European and Hollywood stars. It was Marzotto, however, that made the company, known for its red ink as well as the red carpet, profitable.

Quoted from the International Herald Tribune http://www.iht.com/articles/2007/09/04/business/valentino.php

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