How Valentino's estate plan preserves a fashion empire beyond death

He created a signature shade of red and dressed the most glamorous women in the world – from Princess Diana to Zendaya – but Valentino’s greatest stroke of creative genius could turn out to be his deceased estate.

Often referred to as the ‘emperor’ of Italian fashion, Valentino Garavani, passed away at the age of 93 in January 2026 in Rome. His death brought down the curtain on an era of high fashion while opening a new chapter in the management of his vast estate. His empire is estimated to be worth $1.5 billion although luxury assets and his art collections could push this figure higher.

A closer look at what he leaves behind reveals that it includes the beautiful creations he became famous for, but also the many things he cared about. Not everyone can be this successful or affluent, but we can all learn from his modern-day estate plan.

Contemporary estate planning

Valentino represents an interesting case study in contemporary estate planning. He had no spouse or children and many valuable assets. So, as soon as he passed away, questions started emerging about who would inherit.

Valentino’s last will and testament reportedly reflects his lifelong passions – art and fashion – and what he loved to call his ‘chosen family’ of collaborators. It’s a great example of how a will can be much more than a legal document – it can create a legacy that endures and reflects a person’s philosophy of life.

• No direct heirs: Valentino never married and had no children, so he used his will as a vehicle for looking after the people and causes close to his heart. It also preserves the beautiful things he worked hard to create during his, lifetime, leaving a unique and inspirational cultural legacy.
• ‘Chosen family’: His beneficiaries are expected to include his one-time life partner and lifelong confidant and business associate, Giancarlo Giammetti. Close friends and protégés are also reportedly in line to inherit. In South Africa, we have freedom of testation, which means you have complete discretion to decide how your assets and property are to be distributed after you pass away – you do not have to follow the traditional routes of inheritance, or others’ expectations. Your estate plan should reflect your last wishes.
• Charitable giving: The foundations and institutions that Valentino supported, especially his own foundation which was already actively preserving his cultural legacy, are likely to inherit significant portions of his estate. Writing charitable giving into your will is an effective way to keep supporting causes you care about after you pass on.
• Professional executorship: The appointed executors who will oversee the distribution of Valentino’s assets will have to comply with Italian inheritance law and international estate regulations because he had assets in multiple jurisdictions. The benefits of professional executorship apply to even the smallest deceased estate because no matter how little or how much you leave behind, your estate must still be reported and finalised according to South African estate law.

We advise clients to keep their wills as simple as possible, to avoid unnecessary complexity when the estate is wound up. However, nowadays we see increasing numbers of complex estates, reflecting the evolving and varied family structures in South Africa.

Complex estate

With so many valuable assets and what is believed to be significant cash reserves, Valentino’s is a complex estate that includes some eye-catching elements, and one possibly surprising exclusion:

1. Real estate portfolio: The list of property holdings is almost as eye-catching as a runway show of his famous red dresses: A 17th-century French château near Paris, Italian villas in Rome and on the island of Capri, a Swiss chalet in Gstaad, and a Manhattan penthouse in New York City.
2. Art collection: Valentino was a lover not only of fashion but also of art, so a major part of his legacy will be his private art collection. Mention was not made of it immediately after his death. Still, it is believed to include a portrait of himself painted by Andy Warhol, works by Pablo Picasso and other famous artists, and is therefore worth millions.
3. Cultural legacy: Valentino’s couture archives may be donated to museums or entrusted to foundations, ensuring his legacy continues to inspire future generations.
4. Business interests: Surprisingly to those who do not follow high fashion closely, the Valentino fashion house is not part of the inheritance he leaves behind, as it was sold in 1998. It is currently majority-owned by the Qatari investment fund Mayhoola, which holds a 70% stake. The other 30% is owned by Kering, a French-based multinational luxury group.

His dresses were timeless and glamorous. His signature colour red is considered a lucky charm – a powerful, universally recognisable colour that is always flattering and makes the wearer stand out. One of the many tributes after his death included this from Italian Vogue: “Legacy means leaving something to the world… Valentino was able to leave a colour as a universal language.”

By using his last will and testament to honour his life’s work, Valentino demonstrates that creative estate planning can be used to leave a legacy that makes an impact long after we are gone.

* Newport is the national manager of succession planning at Capital Legacy.

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