Italians Pay Final Respects to Fashion Icon Valentino Garavani

The renowned Italian fashion designer Valentino Garavani, who passed away on Monday at the age of 93, is being remembered by thousands at the headquarters of his famed fashion house near Rome's Spanish Steps. His body has been placed for public viewing, allowing admirers and members of the fashion community to pay tribute to his enduring legacy.

Valentino's longtime associate, Giancarlo Giammetti, was present to receive the casket at the company's flagship location in Piazza di Spagna, where the store windows have been draped in black as a mark of respect. Crowds are expected to gather throughout Wednesday and Thursday to honor the legendary designer. A memorial service is scheduled for Friday at the Basilica of Santa Maria degli Angeli, located in central Rome.

The designer's passing has sparked discussions regarding the inheritance of his significant estate, which is estimated to be worth up to two billion euros. The estate reportedly includes several companies registered on the Channel Island of Guernsey, extensive real estate holdings in Italy and France, as well as luxury assets such as a private yacht and an aircraft. Valentino also retained strategic minority stakes in various companies, underscoring his broad influence within the industry.

Valentino Garavani did not have children but leaves behind a close circle of confidants and family members. Among them are his business and life partner Giancarlo Giammetti, former American model Bruce Hoeksema, Brazilian associate Carlos Souza and his family, and Valentino's grandnephew Oscar Garavani, who has followed in his footsteps as a designer.

A significant portion of Valentino's wealth is tied to real estate. One of the most prominent properties in his portfolio is Wideville Castle, a 16th-century château near Paris, which he acquired in the 1990s through a Dutch holding company. The purchase price at the time was around 12.3 million euros, though its current market value is believed to be substantially higher. In addition, his 47-meter luxury yacht, T.M. Blue One, is valued at approximately 12.4 million euros and forms part of his estate.

The division of Valentino's assets is expected to be managed according to his will. In the absence of direct descendants, his trusted companions and relatives are anticipated to play a significant role in the succession process. The designer's influence on the fashion world is evidenced not only by his creative legacy but also by the enduring relationships he maintained with both collaborators and family members.

Valentino Garavani's death marks the end of a significant chapter in Italian fashion. His impact on haute couture has left an indelible mark, and the outpouring of respect from the public and industry peers alike highlights the profound admiration for his life's work.