The iconic fashion house Versace is set to enter a new chapter as Donatella Versace, who has held the role since 1997, steps down after nearly three decades of influential leadership.
Donatella Versace Exits as Creative Director After 30 Years
Donatella Versace Exits as Creative Director After 30 Years
Fashion legend Donatella Versace announces her departure as creative director of Versace, marking the end of an era.
In a monumental move for the fashion industry, Donatella Versace has decided to step down from her position as creative director of the renowned Italian brand. This marks a significant turning point as she has led the label since 1997, following the tragic murder of her brother Gianni Versace.
At 69 years old, Donatella will hand over the reins to Dario Vitale, the former design director of Miu Miu. She will transition into a new role as a brand ambassador while remaining actively involved in Versace's philanthropic initiatives. The announcement comes amidst rumors regarding potential interest from the Prada Group in acquiring the luxury brand from Capri Holdings, which acquired Versace for €2 billion in 2018.
Capri Holdings acknowledged Donatella's indelible impact on the brand in a statement, highlighting her contribution to Versace's global success. The company expressed confidence in Vitale’s capabilities, describing him as a "strong design leader" whose vision is expected to spearhead Versace's future growth.
Versace took to Instagram, sharing her sentiments with her 12 million followers. "It was the greatest honour of my life to carry on my brother Gianni's legacy," she wrote, adding that she feels Versace is "in my DNA and always in my heart." Excited about her successor, Donatella expressed her enthusiasm to see the brand evolve through new perspectives.
Throughout her illustrious career, Donatella has dressed global icons, from Madonna and Beyoncé to Lady Gaga, and is famed for her design of Jennifer Lopez's emblematic green jungle dress and Michelle Obama’s final state dinner gown.
Founded in Milan in 1978, Versace began as a family business with Donatella and her brothers, Santo and Gianni. Since being sold to the Michael Kors Group, which was later integrated into Capri Holdings, Versace has become a significant revenue source, expected to contribute 20% to Capri's overall revenue of €5.2 billion for 2024. As the brand enters this new phase, the fashion world watches closely for the impact of this dramatic leadership change.
