In a significant shift within the fashion industry, Donatella Versace is stepping down from her role as creative director of the iconic Versace fashion house, a brand founded by her late brother, Gianni Versace. After 27 years at the helm, Donatella will transition to the position of chief brand ambassador, as announced by Capri Holdings, the US owner of Versace, on Thursday.
Dario Vitale, previously the design director at Miu Miu, a brand under the Prada Group, will take over as the new creative director, effective April 1. This appointment comes at a pivotal moment for Versace, just weeks after what was intended to be Donatella’s final runway show at Milan Fashion Week. The designer made a memorable exit, donning an all-black ensemble and receiving an enthusiastic response from the crowd.
The timing of this announcement has sparked speculation regarding the future of Versace, particularly with rumors circulating that the Prada Group is in talks to acquire the brand from Capri Holdings. Capri, which purchased Versace for €2 billion (approximately $3.45 billion) in 2018, also owns other luxury labels such as Michael Kors and Jimmy Choo. Miuccia Prada, the co-creative director of Prada, acknowledged interest in Versace during Milan Fashion Week, although Donatella has remained silent on the matter.
Donatella Versace, now 69, took on the role of creative director in 1997 following the tragic murder of her brother Gianni in Miami. Throughout her tenure, she has been instrumental in maintaining and evolving the brand’s identity, which is synonymous with bold designs and vibrant aesthetics. In her statement regarding the transition, Donatella expressed her excitement about Vitale joining the Versace family and her eagerness to see the brand through “new eyes.” She reflected on her journey, stating, “It has been the greatest honour of my life to carry on my brother Gianni’s legacy. He was the true genius, but I hope to have some of his spirit and tenacity.”
In his own statement, Vitale paid homage to the legacy of both Gianni and Donatella, emphasizing the unique heritage of Versace that has significantly influenced the fashion landscape. He expressed his gratitude for the opportunity to lead the brand, stating, “I am truly honored to join Versace as the Chief Creative Officer and to be a part of this special and powerful fashion luxury House created by Gianni and Donatella.” His commitment to honoring the brand’s history while steering it towards future growth is a central theme in his vision.
Capri Holdings has not disclosed any plans to sell Versace, but the hiring of a designer from Miu Miu has fueled speculation about potential changes in ownership. Versace CEO John D Idol described the creative transition as part of a “thoughtful succession plan” for the brand, highlighting Vitale’s leadership qualities and expressing confidence in his ability to drive Versace’s future growth.
As chief brand ambassador, Donatella will continue to champion the Versace brand and its core values, remaining a passionate supporter of the label that has been a significant part of her life. Versace currently represents 20 percent of Capri Holdings’ projected revenue of €5.2 billion ($8.97 billion) for 2024, underscoring its importance within the company’s portfolio.
In recent strategic plans, Capri Holdings aims to rebalance the Versace brand, returning it to its more daring roots while also focusing on increasing accessory sales and appealing to entry-level consumers who may have been deterred by a post-pandemic emphasis on high-net-worth clients. This shift reflects a broader trend in the fashion industry, where brands are increasingly looking to engage a wider audience while maintaining their luxury status.
As the fashion world watches closely, the transition at Versace marks a new chapter for the brand, one that will undoubtedly be shaped by the vision and creativity of Dario Vitale, while still honoring the legacy of Gianni and Donatella Versace.
