Donatella Versace is stepping down as chief creative officer at Versace after almost 30 years.
Ms. Versace, who became the Italian fashion house’s lead designer after the murder of her older brother (and founder of the brand) Gianni Versace in 1997, will become the label’s “chief brand ambassador. Dario Vitale, former design and image director of Miu Miu, will become Versace’s new chief creative officer, beginning April 1.
“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 I have some of his spirit and tenacity,” Donatella said in a statement, noting that she is “excited to see Versace through new eyes.” As chief brand ambassador, Donatella will shift her focus to the House’s philanthropic efforts, like the Versace Foundation, which was launched by owner Capri Holdings in 2022 to support the LGBTQIA+ community by “promoting awareness, preserving history and culture, and advancing equality, wellness, and safety.”
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John D. Idol, CEO of Capri Holdings, which also owns Michael Kors and Jimmy Choo, said that decision was “part of a thoughtful succession plan.” Notably, the announcement comes as Miu Miu’s owner, the Prada Group, is deep in discussions to purchase Versace from Capri Holdings. Last week, the Prada Group agreed to a price of almost €1.5 billion EUR ($1.6 billion USD) for Versace, and the two could reach a deal by the end of this month.
In 2018, Capri Holdings acquired Versace with its sights set on growing the label into a $2 billion USD brand; but despite Versace’s celebrated fashion identity, its sales have fallen to just over $1 billion USD in the last year, with its latest financial report citing a 28.2% decline in quarterly revenue.
Vitale, who only exited his post at Miu Miu in January, was instrumental in driving the Miuccia Prada-founded brand’s sales through the roof amid the ongoing luxury slowdown. The year 2024 was a record year for Miu Miu, which saw retail growth climb an impressive 93%.
“Vitale is a rare talent, who deeply respects the essence and values of Versace and clearly understands its growth potential,” Versace CEO Emmanuel Gintzburger said in a statement. “We are convinced that his experience and vision will bring a new perspective to the brand.”
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