Donatella Versace has been replaced as the creative director of the fashion house founded by her late brother, Gianni Versace, and will now serve as the chief brand ambassador. The new creative director is Dario Vitale, who previously worked at Miu Miu, a brand owned by the Prada Group. This move comes amid speculation that the Prada Group is looking to purchase Versace from Capri Holdings, which acquired the fashion house for 2 billion euros in 2018.
While Capri Holdings did not mention any plans to sell Versace, the appointment of Vitale has raised speculation about a possible deal. Versace expressed excitement about the new direction for the brand under Vitale’s leadership and as the chief brand ambassador, she will continue to support and champion the Versace brand.
CEO John D. Idol stated that the creative shift is part of a thoughtful succession plan for Versace and expressed confidence in Vitale’s talent and vision. Versace, who took over as creative director in 1997 after her brother’s death, mentioned that it has been an honor to carry on Gianni’s legacy and that the brand is in her DNA.
Versace represents 20% of Capri Holdings’ revenue and the company has outlined plans to rebalance the brand’s portfolio, return to its daring roots, increase accessory sales, and attract entry-level consumers. The future of Versace under Vitale’s leadership as the new creative director and with Donatella Versace as the chief brand ambassador seems promising as the brand continues to evolve while staying true to its founder’s vision.
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