UPDATE 2-Italian fashion great Valentino dead at 93

Founder of the eponymous brand, Valentino scaled the heights of haute ​couture, created a business empire and introduced a ‍new colour to the fashion world, the so-called 'Valentino Red'. "Valentino Garavani passed away today at his Roman residence, surrounded ⁠by ‌his loved ⁠ones," the foundation said on Instagram.

Italian fashion designer Valentino Garavani has died, ‌his foundation said on Monday.

Usually known only by his first ⁠name, Valentino was 93, and had retired in 2008

. Founder of the eponymous brand, Valentino scaled the heights of haute ​couture, created a business empire and introduced a ‍new colour to the fashion world, the so-called 'Valentino Red'.

"Valentino Garavani passed away today at his Roman residence, surrounded ⁠by ‌his loved ⁠ones," the foundation said on Instagram. The lying in state will ‍be on Wednesday and Thursday, while the funeral will ​take place in Rome on Friday at 11 ⁠am (1000 GMT), it added.

Valentino was ranked alongside Giorgio Armani ⁠and Karl Lagerfeld as the last of the great designers from an era before fashion ⁠became a global, highly commercial industry run as much by ⁠accountants ‌and marketing executives as the couturiers. Lagerfeld

passed away in 2019, while Armani

died in September. (Writing ⁠by Alvise Armellini, editing by ‍Gavin Jones)