Fifth Avenue will get even more glamorous today with the opening of Valentino’s new flagship, a sprawling 20,000-square-foot space between 55th and 56th streets. Designed by architect David Chipperfield, the shop will offer women’s wear, men’s wear, and accessories, as well as the new Camubutterfly collection of women’s clothing and accessories and Zodiac finger clutches that are exclusive to the location. “The image of [Valentino] derives not from the appearance of interior design, but from the substance of architecture,” explained Chipperfield of the space, which previously housed the Japanese department store Takashimaya. With a 27-foot high atrium, palladiana floors, and wild chandeliers, the palazzo-style boutique feels both modern and old school decadent. The emperor will no doubt approve.