In a significant leadership change, Donatella Versace has stepped down as the creative director of the iconic fashion house that her late brother Gianni Versace founded. Capri Holdings, the U.S. parent company of Versace, announced this transition on Thursday, designating her as the chief brand ambassador moving forward.
Taking over as creative director will be Dario Vitale, previously the design director at Miu Miu, a brand under the Prada Group. His new role becomes effective starting April 1.
At 69, Versace expressed her support for Vitale, highlighting her dedication to fostering the next generation of designers. Vitale, at the age of 41, expressed his gratitude to her for the opportunity and trust she has placed in him.
Donatella’s Impact on Fashion
Donatella Versace’s rise to creative director began in 1997, following the tragic murder of her brother. Initially navigating the role with uncertainty, she soon embraced it, leading to several memorable runway and red carpet appearances. One such moment was a poignant tribute to Gianni on the 20th anniversary of his death, featuring iconic supermodels alongside current celebrities. Notably, Jennifer Lopez rocked the Versace jungle dress, a fashion statement that nearly broke the internet at the 2000 Grammys, and which was revisited in the Spring-Summer 2020 collection.
Reflecting on her journey, Versace acknowledged the challenges she faced in transitioning from Gianni’s famous designs characterized by bold prints and seductive silhouettes. Despite moments of self-doubt, she ultimately embodied the powerful woman that Versace has come to represent.
“I asked myself why it took so long to find my voice,” she shared with reporters prior to the anniversary show. “The initial years were filled with uncertainty, and I made mistakes, but every misstep was a lesson learned.”
Speculation About Ownership
This creative transition coincides with rising rumors that the Prada Group may be interested in acquiring Versace from Capri Holdings, which bought the brand for €2 billion (approximately $2.2 billion) in 2018. Capri also owns other renowned brands like Michael Kors and Jimmy Choo.
Miuccia Prada hinted at the potential sale during Milan Fashion Week last month, while Donatella remained silent at what has now become her final runway show. She made a statement by wearing a vintage jacket created by her brother in 1992, a design inspired by his famous Miss S&M collection.
While Capri Holdings did not formally announce plans to sell Versace, the hiring of a designer from Miu Miu has intensified the speculation regarding a prospective agreement.
Celebrating Donatella’s Journey
Following the announcement, Versace received an outpouring of affection and accolades from the community of younger designers she has championed, including Roberto Cavalli’s Fausto Puglisi and Pierpaolo Piccoli from Valentino, not to mention thousands of fashion fans across social media.
In an emotional Instagram post, she reflected on the significant milestones she and her brother have achieved together over the nearly 50 years of the brand’s existence, showcasing moments with iconic figures like Lady Diana, Naomi Campbell, and Elton John among many others.
What Lies Ahead for Versace
Versace CEO John D. Idol described the creative reshuffling as part of a deliberate succession strategy. He praised Vitale as a robust leader, voicing confidence in his potential to drive the brand’s growth going forward.
As chief brand ambassador, Donatella will continue to uphold the values and spirit of the Versace legacy. In a statement, Idol noted that Versace accounted for 20% of Capri Holdings’ projected €5.2 billion revenue for 2024. The company is reportedly working on rebalancing the Versace brand to restore its daring essence while also aiming to revisit its customer base to attract entry-level consumers who have been deterred by a recent focus on high-net-worth clients.
During the announcement, Idol acknowledged that Versace has recently faced difficulties in the menswear sector, stating, “Historically, our menswear customers expected boldness, but we’ve taken a quieter route.”
A New Era begins
Expressing her enthusiasm for Vitale’s appointment, Donatella stated that she was eager to see Versace evolve “through new eyes.” She emphasized, “Carrying on my brother Gianni’s legacy has been the greatest honor of my life. He was the true visionary, and I aspire to carry forward his spirit and tenacity.” In her new role, she affirmed, “Versace is embedded in my DNA and will always hold a special place in my heart.”