"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. "The heart of this project will be the Parisian maison in Place Vendôme, in the original location where the first atelier was."
The label's new creative director won't be announced until September, and while many fashion experts have been linking former Dior head designer John Galliano to the role, W editor Stefeno Tonchi told nymag.com there are still many creatives in the running.
"There are a lot of designers that I think would do a great job," he said. "Very soon they will make the announcement, so I already know a little bit too much. But I thought that it could be fun to have John back doing it - as in, Galliano.
"But you know, that's too much of a risky proposition probably. At least for America. But I think he's really talented."
Meanwhile, it is known that French model and filmmaker Farida Khelfa will be the brand's spokesperson in a similar fashion to Ines de la Fressange fronting Della Valle's relaunch of French accessories label Roger Vivier back in 2002.
Following an announcement earlier this week that the Schiaparelli fashion house will reopen, fashionistas have begun to offer their opinions on who should be the new creative director -- with disgraced designer John Galliano one of the most talked about.
News of the revival ties in with this week's launch of the Schiaparelli and Prada: Impossible Conversations exhibit at New York's Metropolitan Museum of Art.
Ahead of Monday's celebratory Costume Institute Gala event, Italian fashion mogul Diego Della Valle, head of Tod's SpA group, announced he will relaunch the French fashion house, which has been closed since 1954. He purchased all of Schiaparelli's trademarks and archives back in 2006.
It is expected the new label will focus on accessories, makeup and some clothes.