Though it was once the undisputed capital of la dolce vita, Rome is no longer where Italy's top designers unveil their collections, and the city has been quick to capitalize on Valentino's big name status.

The designer was allowed to pick the city's monuments he fancied as settings for his parties and a list of Italian dignitaries have paid tribute to his role in putting Italy at the top of global fashion.

Valentino, whose group last month landed in the hands of private equity fund Permira, shrugged off rumors of impending retirement.

"I'm a disaster in everything else, but dress designing I can do," he said.