Following the huge buzz surrounding Schiaparelli right now, the label's owners have decided to reignite the label with a comeback next year. The label has this week been celebrated thanks to an exhibition by the Costume Institute which opened at the Metropolitan Museum of Art's Gala on Monday.

Schiaparelli's owner, Diego Della Valle has revealed he will relaunch the brand along with Paris fashion personality Farida Khelfa who will act as a spokesperson. Now the hunt is on for a designer who is expected to be announced in September. The first line of accessories, fragrances and cosmetics are slated to be launched in February, with clothing to follow later.

"The idea with Schiaparelli is to propose the brand with all its modernity, and represent dreams, art and all the most sophisticated things we can do," Della Valle told WWD. "This brand doesn't have to get involved in the frenetic world of numbers, accounts and dimensions, but it just has to express itself at its best. The heart of this project will be the Parisian maison in Place Vendôme, in the original location where the first atelier was."

Della Valle is no stranger to reviving old fashion labels. In 2002 he successfully relaunched shoe label Roger Vivier.

The original founder, Elsa Schiaparelli whose designs were heavily influenced by Surrealist art, closed her fashion house in 1954. She passed away in 1973. Ninety of her fashion designs and 30 accessories were honoured this week at the opening of the Schiaparelli and Prada: Impossible Conversations exhibit.