The Valentino fashion house is one of the most famous luxury designer labels and brand names in the world, and Valentino was the favourite designer for glamorous and wealthy women such as Jacqueline Kennedy Onassis and the actress Elizabeth Taylor.
Valentino is reported to be showing his last ready-to-wear collection in Paris in October and a final haute couture collection in January before he steps down.
Valentino said: "It's the perfect moment to say adieu to the world of fashion."
And Valentino added: "I am especially grateful that I have been able to keep my own style over the decades, in spite of the many changes that have taken place in the world of fashion and in its business."
