London, Sept 5 (ANI): For 45 years he has been dressing some of the world's most beautiful women. However, fashion designer Valentino has now decided that it is time he stops designing.

In a statement, Valentino Garavani, said that he was stepping down as the head of the fashion group that bears his name.

"I have decided that this is the perfect moment to say 'addio' to the fashion world," Timesonline quoted him, as saying.

Though Valentino will showcase his ready-to-wear collection in Paris in October, he will step down from him post as chief designer after his haute couture collection in January next year.

Valentino's announcement comes just a month after he insisted that he had no "immediate plans" to quit, and said that he would step down "when I am ready".

He said that he would support "institutions that promote the study of design and the art of fashion".

The contenders in the race to take over Valentino's place include Jack McCollough and Lazaro Hernandez, Alessandra Facchinetti, Giambattista Valli and Stefano Pilati. (ANI)