Donatella Versace Steps Down as Versace Designer After Almost 30 Years

Donatella Versace is stepping down as chief creative officer at Versace after almost 30 years.

Starting April 1st, Donatella Versace, who took over as the primary designer for the Versace fashion house following her brother Gianni’s tragic murder in 1997, will now assume the role of the brand’s main representative. Meanwhile, Dario Vitale, a previous design and image director at Miu Miu, has been appointed as Versace’s new creative chief officer.

In a statement, Donatella expressed profound gratitude for the opportunity to continue her brother Gianni’s remarkable legacy. She acknowledged his genius but hoped she could embody some of his spirit and determination. Notably, she shared her enthusiasm about viewing Versace from fresh perspectives. As the brand’s chief ambassador, Donatella plans to channel her energy towards the House’s charitable initiatives, such as the Versace Foundation established by Capri Holdings in 2022. This organization is dedicated to supporting and empowering the LGBTQIA+ community through initiatives aimed at increasing awareness, preserving history and culture, and fostering equality, wellness, and safety.

View this post on Instagram

A post shared by Versace (@versace)

John D. Idol, the CEO of Capri Holdings (the parent company of brands like Michael Kors and Jimmy Choo), referred to the decision as an element of a strategic succession plan. Interestingly, this announcement coincides with ongoing negotiations between Prada Group and Capri Holdings, regarding Prada’s potential acquisition of Versace from the latter. Last week, the parties agreed on a price nearly €1.5 billion EUR ($1.6 billion USD) for Versace, and they may finalize the deal by the end of this month.

Back in 2018, when I was still deeply engrossed in my gaming world, Capri Holdings swooped in and grabbed Versace, aiming to transform it into a $2 billion USD powerhouse. However, even with its iconic fashion reputation, the brand’s sales have dropped down to around $1 billion USD last year, as per their latest financial report, which pointed towards a staggering 28.2% drop in quarterly revenue.

Vitale, who recently stepped down from his role at Miu Miu in January, played a crucial part in boosting the sales of this brand founded by Miuccia Prada. Despite the ongoing luxury market downturn, Miu Miu experienced unprecedented success in 2024, achieving a staggering retail growth of 93%.

According to a statement made by Versace CEO Emmanuel Gintzburger, Vitale is an exceptional individual who truly appreciates the core values and spirit of Versace and recognizes its future growth opportunities. We believe that his expertise and insight will provide a fresh outlook for the brand.

Read More