Della Valle plans to hire a designer by September and aims to have accessories, fragrances, cosmetics, and some clothes in stores by next February. He's hired actress Farida Khelfa to be the face of the brand — her first assignment is attending this evening's Met Gala in vintage Schiaparelli — and will set up shop at 21 Place Vendôme in Paris, the same address at which Elsa Schiaparelli opened her first boutique.
"The idea with Schiaparelli is to propose the brand with all its modernity, and represent dreams, art and all the most sophisticated things we can do," Della Valle told WWD.
Della Valle has reopened old fashion brands before: in 2002, he brought the shoe label Roger Vivier back to life.
Schiaparelli is one half of the focus of this year's Costume Institute exhibit, Impossible Conversations: Schiaparelli and Prada. The exhibit will be open to the public from May 10 to Aug. 19.