Read the Style PS blog

Scroll down to see pictures from the Valentino catwalk

Was Valentino in a nostalgic mood yesterday? Giant ruffles, sugary candy shades and endless ruching appeared to suggest so. Harking back to a decade when lavish extravagance was key, this referencing of the Eighties - the other decade that style forgot - seemed an appropriate swansong for a designer who enjoys a lifestyle as rich and as decadent as many of his socialite clients.

And so, for his last prêt-à-porter collection, we were treated to an extravagant display of his signature detailing: the impeccably tailored skirt suits with brocade trims, intricate pleating on sherbert lemon or aqua blue, one-shouldered cocktail dresses or else Valentino red (that particular shade of a Sicilian orange) tops made from delicately stitched pieces of chiffon fabric to present a fish-scale effect. Polka dots also loomed large, either on monochromatic trouser suits or reworked on to crimson and white ruffle dresses trimmed with circular plastic discs. As if this wasn’t froufrou enough, he added a dash of multi-layered ribbons to capped-shoulder day jackets or gave dresses a sprinkling of rosettes. His evening wear, largely comprising long column gowns, often appeared with lace trims or inserts or else were knotted at the shoulder or at the waist with lavish bows. A particular standout was a red version with diamanté-encrusted sash ties.

High-style austerity that pops with colour

Every six months fashion editors anticipate avidly what wonder-boy Nicolas Ghesquiere might produce next

• Dior at 60 gives Paris a stylish history lesson

Multimedia

• Pictures: Balenciaga in Paris

His announcement last month that he would be stepping down from the label that he founded with Giancarlo Giametti during the mid-Sixties was made after widespread speculation that he would be retiring soon. He will bow out after his couture collection in January. The decision to mark his 45th anniversary in the fashion business with such fanfare in July, rather than to celebrate the more traditional half-century, fuelled the persistent rumours, which were denied vehemently until September.

Since the beginning of this year the brand has been controlled by Permira, a private equity group based in London which is in the process of completing a £1.8 million buyout. It bought the Valentino label from Marzotto but its bosses were always aware that they might lose the company’s most recognisable asset.

At 75, Valentino Garavani is leaving behind quite a legacy. His contemporaries have nearly all retired, yet aside from dressing Jackie Kennedy Onassis, Sophia Loren and even Audrey Hepburn in his youth, he continues to dress a slew of European and Hollywood stars from the new generation. And while his personal aesthetic has never been regarded as ground-breaking, his timeless elegance and fashionable clothes have made him the couturier of choice at the Oscars for Cate Blanchett, Uma Thurman, Julia Roberts, Kate Winslet and Julianne Moore. The gilded lifestyle - mansions in London, Rome, New York and Paris - also enabled him to socialise with clients on an equal footing; and just how many celebrities have clamoured for an invitation to stay on his infamous yacht?

Valentino is an Italian designer who always brought a Mediterranean flourish to a sometimes stiff and uptight French perspective. It is this feminine approach to tailoring, or decorative and formal eveningwear, that has long been his appeal and explains his enduring popularity with a very loyal and glamorous clientele.

Alessandra Facchinetti, the 35-year-old former Gucci women's wear designer, has been appointed by Valentino Fashion Group as the new creative director for womenswear and will present her first ready-to-wear collection for the house in March.

Times recommends

• How I lost the gift of joy for a while
• How to get Coleen Rooney's post-baby body
• The A-Z of winter style rules