The fashion world lost a legend in Italian designer and magnate Valentino Garavani, who passed away on January 19, 2026 at the age of 93.
A statement shared to social media read: "Valentino Garavani passed away today at his Roman residence, surrounded by his loved ones. The lying in state will be held at PM23 in Piazza Mignanelli 23 on Wednesday, January 21st, and Thursday, January 22nd, from 11:00 am to 6:00 pm."
It continued: "The funeral will take place on Friday, January 23rd at the Basilica Santa Maria degli Angeli e dei Martiri, in Piazza della Repubblica 8 in Rome, at 11 am."
Several members of the fashion and entertainment world have shared moving tributes to Valentino, crediting his work as a pioneer in the industry and how he has shaped the fashion philosophy of millions.
Valentino Garavani's net worth
As a result of his decades of influence over the industry, and his work with his eponymous fashion label Valentino, which was sold in 1998, at the time of his death, the designer was worth $1.5 billion, per Celebrity Net Worth and other reports.
The designer created his luxury brand in 1960 with his professional partner (which later became a personal relationship) Giancarlo Giammetti. After a few years of strife, the Rome-based brand became a worldwide phenomenon for its emphasis on couture, its popularity with celebrities, the influx of supermodel culture, and of course, the "Valentino red."
By 1998, the brand was a household name, and Valentino and Giancarlo, now 83, sold it to Italian conglomerate HdP for a reported whopping $300 million, one of the largest business deals of the era for a brand acquisition. Over time, ownership of the company has changed hands multiple times.
In 2012, it was purchased by Qatari aristocrats through Mayhoola for Investments S.P.C. for an estimated $800 million, contributing significantly further to his net worth.
Valentino left the brand as creative director in 2007, presenting his last haute couture show in Paris in January of 2008, effectively retiring from the industry right after.
Valentino's income and revenue
The brand itself was making just under $200 million in revenue by the time it was sold to HdP in 1998, with some reports stating that its revenue came out to be just over $180 million when HdP sold the company in 2002 to Marzotto Group for about $210 million.
The brand's latest revenue was revealed in April 2025, with new creative director Alessandro Michele, who took over in 2024 after departing Gucci, sharing that profits had slipped by 2%, although still stood at a solid $1.42 billion, among the most lucrative fashion houses currently active.
Their biggest earner, however, was their beauty and fragrance department, currently managed by L'Oréal, which the brand stated increased by 51% year-on-year.