Italian Fashion Designer, Valentino, is set to resign today according to WWD. After 45 years of creating luxurious, sexy and distinguishably elegant fashion. Valentino will complete one more Ready to Wear show and one more Couture season.

Valentino's collections have gone from the runway to the red carpet and have been seen on celebrities such as Jennifer Aniston and Gwenyth Paltrow, but most memorably on Julia Roberts at the 2001 Oscars, whose vintage Valentino gown wowed all of Hollywood.

Accomplishing many accolades throughout his design career, from being awarded the Neiman Marcus Prize in 1967 to the the Cavaliere di Gran Croce from the President of Italy to The Lifetime Achievement Award from the CFDA in 2000, the legacy of Valentino is far reaching and embedded into fashion culture for all time.

Valentino's old world elegance will be sadly missed, however it will be interesting to see if another designer will be stepping into his shoes and if this person can continue the success of the Valentino brand, as his partner Giancarlo Giammetti will also retire.