Italian fashion designer Valentino Garavani along with his business partner Giancarlo Giammetti launched his virtual museum on Wednesday at the IAC Headquarters in New York City attended by stars and socialites.

During the press conference at launch of the first virtual online museum actress Anne Hathaway said, 'Ladies and gentleman, today we are witnessing the birth of a revolution and no, I do not believe that word is hyperbolic,'

'The Valentino family has created something that has never existed before - a virtual

museum that will change art, the art world and how we experience both forever.'

The virtual museum is the first of its kind with the galleries comprising 10,000 square meters of an actual museum and over 300 gowns from the Valentino Garavani archive that can be viewed in 360 degrees and some of which can be even rotated in 3-D. These dresses are paired with the images of the celebrities who wore them.

Each pieces are paired with sketches, editorials, photos and interviews that tell the back story of each dress.

Even though the iconic designer officially retired in 2008, the 79-year-old says he is

still full of creativity.

The star-studded event was attended by the likes of actor Hugh Jackman, Sarah Jessica Parker, Claire Danes and socialite Daphne Guinness.

Take a look at the launch party pictures