There was a fairy-tale feel to Valentino’s fall 2012 collection—a scalloped, square-neck long-sleeved bright red dress with matching patent red ankle-strap shoes conjured up images of Little Red Riding Hood. A floor length pink gown with lace detail looked like it belonged Catherine Deneuve, playing a princess in the early ’70s. The collection was not, however, pure fantasy. All black looks, black leather capes, and an Eastern-European carpet coat gave the collection a more realistic edge—as if Valentino was not only exploring fairy tales, but the macabre, and often very violent, folk-tales on which they are based.