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VENICE – Red is synonymous with Valentino – including where tempers are concerned.

At a party Thursday night following a screening of Matt Tyrnauer’s documentary “Valentino: The Last Emperor” during the Venice Film Festival, the retired couturier relished telling his guests that his favorite parts in the film “are when I scream at Giancarlo (Giammetti).”

However, there was no sign of tension at the candle-lit dinner hosted by Vogue Italia and Vanity Fair Italia on the terrace of the Peggy Guggenheim Museum overlooking the Grand Canal. The high-spirited duo smoothly entertained some of their most glamorous A-listers – Charlize Theron, Tilda Swinton, Diane Kruger, Claire Danes and Hugh Dancy – and their ever-supporting cast of aristocrats, models and jetsetters.

“Can you believe that after all these years Valentino still doubts Giancarlo Giammetti at times,” wondered Natalia Vodianova. The dynamics between the two partners over 48 years was central to the movie and the main subject matter among guests, which also included Matteo Marzotto and Luisa Beccaria. “It’s very true to life, and really great fun,” said Elizabeth Hurley of both the partnership and the movie, in which she has a cameo. Lapo Elkann, who never left the side of new girlfriend Bianca Brandolini d’Adda, gave a thumbs-up to the documentary. “What better way to portray your work than bring cameras into your life? It’s even more effective than a reality show or ad campaign,” said the Agnelli heir.

Some in the crowd were in festival mode and also had work on their mind. “I just received a call from Quentin Tarantino, asking me to be in his next movie,” said Kruger about the upcoming “Inglorious Bastards,” starring Brad Pitt. “I don’t want to give too much away, but I’ll play a German movie star.”

Theron lauded the Venice festival for its “specific audience,” compared to Toronto or Cannes, for example. “It’s such a beautiful place and I’ve been coming here since the first time with Woody Allen,” she recalled.

Swinton, mused on the merits of various festivals. “What is the difference between them? Boats,” she deadpanned.

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