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After graduating from the Istituto Europeo di Design school, Piccioli met his creative partner, Maria Grazia Chiuri, in the 1980s, according to BoF.

They worked together for a while at Fendi and eventually moved to Valentino in 1999 to work side-by-side on accessories. They became co-creative directors of the fashion house in 2008.

Together, they helped Valentino reach more than $1 billion in revenue in 2015, British Vogue reported.

But when Chiuri left for Dior in 2016, Piccioli held the Valentino role on his own.

"I am grateful to Pierpaolo for his role as creative director and for his vision, commitment and creativity that have brought the Maison Valentino to what it stands for today," Valentino chief executive Jacopo Venturini said.

"Not all stories have a beginning and an end," Piccioli wrote on Instagram. "Some live a kind of eternal present that shines with an intense light, so strong that it leaves no shadows. I have been in this company for 25 years, and for 25 years I have existed and lived together with the people who have woven with me the plots of this beautiful story that is mine and ours."

"Thanks to Mr. Valentino and Giancarlo Giammetti who gave me their dreams," he added. "Thank you to every single person who in one way or another made this possible, it has been a privilege and an honor to share my journey, and my dreams, with you."