Valentino Says He's Not Retiring

Valentino and his business partner Giancarlo Giammetti told reporters at a press conference to announce the plans for Val's 45 anniversary party in Rome that Val won't be stepping down anytime soon. The recent sale of Valentino shares to Permira and the anniversary led to much speculation that this would be Val's last season. I suspect that although Val is ready to go, they want there to be overlap when the next designer comes along. Stylescribble wrote that she overheard people close to Val talking and that his choice for the post is Zac Posen.