Princely Valentino bleeding a little (5)
I believe the answer is:
noble
'princely' is the definition.
('noble' can be similar in meaning to 'princely')
'valentino bleeding a little' is the wordplay.
'a little' indicates a hidden word.
'NOBLE' is hidden within 'valentino bleeding'.
(Other definitions for noble that I've seen before include "fine" , "Titled peer of the realm" , "Eminent" , "Magnificent old coin" , "Person of high rank" .)