Valentino has annouced his successor: the former head of women’s wear at Gucci, Alessandra Facchinetti. According to WWD, Stefano Sassi, CEO of Valentino Fashion Group, said, “We believe that we have chosen a design team able to give strong creative content and that Alessandra Facchinetti is the designer who can interpret and continue the legacy of Valentino’s core values at their best,” . Alessandra will present her first collection for the group in March. “I am honored to be part of this new project,” she said. “Mr. Valentino has always been a point of reference for me, an icon for his sense of style and elegance. My admiration and respect for him is endless. I will dedicate myself to this new project with great passion and enthusiasm, treasuring everything that has been done this far, and will be ready to present my first collection in March ’08.”

Valentino’s departure comes shortly after the Valentino empire was bought for 2.6 billion euros by Permira, a private equity. Valentino’s last collections include the Ready to Wear collection being shown in October and Haute Couture collection in Jaunary 2008, both in Paris.

Valentino was quoted, “Last July, in Rome, I celebrated my 45th Anniversary in Fashion. It was a moment of infinite magic and tremendous joy, and I cannot fully express with words how deeply moved I was by the occasion. I received an outpouring of good wishes from all over the world, which brought me great satisfaction. I was very touched that friends-old and new-traveled from far reaches to be a part of the Festivities. It was a moment that will be impossible to repeat. And so, at this time, I have decided that is the perfect moment to say adieu to the world of fashion.”

I’m glad that he is bowing out gracefully and not being forced by all the politics of big fashion houses. After all, it’s not how you start, it’s how you finish.