Update: Valentino to resign
UPDATE: The House of Valentino has officially confirmed that Valentino will step down. “My future will be filled with new interests and challenges,” he says. "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". He will continue his work with the label until January 2008, after showing his last RTW collection in October and couture collection in Paris in January.
WWD reports that Valentino is expected to resign later today. The Italian designer's decision comes just months after celebrating his 45th anniversary. He will announce one more ready-to-wear show and one more couture season before officially stepping down as head designer.
"The designer's future at the company has been the subject of much speculation over the last year, especially following Permira's acquisition of Valentino Fashion Group this past spring," reports WWD.
In July Valentino stated that he, along with his business partner Giancarlo Giammetti, would step down when they were ready, although he insisted that he had no immediate plans to do so.
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Now he can just kick back and relax with all his pugs :-)
Posted by: WendyB | September 4, 2007 3:32 PM