Donatella Versace is stepping down as creative director of the iconic fashion house founded by her late brother, Gianni Versace, after nearly three decades leading the brand. She will transition into the role of chief brand ambassador, parent company Capri Holdings announced Thursday.
Dario Vitale, formerly design director at Prada Group’s Miu Miu, has been appointed as the new creative director, effective April 1.
The leadership change comes amid growing speculation that Prada Group may be in talks to acquire Versace from Capri Holdings, which purchased the fashion house for €2 billion (approximately $2.2 billion) in 2018. While Capri’s statement made no mention of a potential sale, Vitale’s appointment is likely to fuel ongoing rumors of a deal.
Versace CEO John D. Idol described the transition as part of a “thoughtful succession plan,” calling Vitale “a strong leader” with a vision for Versace’s growth.
Donatella Versace, 69, took over as creative director in 1997 following her brother’s tragic murder. Reflecting on her decades-long tenure, she said in a statement, “It has been the greatest honor 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.”
Expressing excitement for the brand’s next chapter, she added, “I am thrilled to welcome Dario. I’m excited to see the brand through new eyes and will remain Versace’s most passionate supporter. Versace is in my DNA and always in my heart.”
Versace represented 20% of Capri Holdings’ 2024 revenue of €5.2 billion. Capri recently laid out strategic plans to revitalize the brand, emphasizing its bold heritage, expanding its accessories line, and aiming to reconnect with entry-level consumers.
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