Donatella Versace is stepping down as the luxury fashion brand’s Chief Creative Officer after nearly three decades at the helm.
The Italian designer will take on a new role as brand ambassador for the fashion house which is owned by Capri Holdings amid speculation it could be sold to Prada.
Dario Vitale will succeed the 69-year-old from 1 April, joining Versace from Prada-owned Miu Miu where he was Design and Image Director.
Donatella took over the then-family owned business in 1997 following the murder of her brother Gianni, who founded the label in 1978.
“It has been the greatest honor of my life to carry on my brother Gianni’s legacy,” she said in a statement.
“He was the true genius, but I hope I have some of his spirit and tenacity.
“In my new role as Chief Brand Ambassador, I will remain Versace’s most passionate supporter.
“Versace is in my DNA and always in my heart.”
Under her creative leadership the brand continued with its maximalist aesthetic but the designer was able to step out of the shadow of her brother, creating iconic moments like Jennifer Lopez’s jungle dress.
Worn by the film and music star at the Grammy Awards in 2000, the low-cut dress created so much buzz that It prompted Google to create the image search function.
Capri Holdings, which also owns Micheal Kors and Jimmy Choo, bought Versace in 2018 in a deal worth US$2.1bn at the time.
The fashion holding company is reportedly in talks to sell Versace to fellow Italian fashion house Prada.
Versace’s fragrances, which include Eros and Blue Jeans, have been produced under licence by EuroItalia since 2005.
That partnership was extended by Capri Holdings for a further 15 years in 2021.
John D Idol, Chairman and Chief Executive Officer of Capri Holdings, said the announcement was “part of a thoughtful succession plan for Versace”.
Versace is not the only fashion house shaking up its creative leadership.
Gucci has named Demna Gvasalia as its new Artistic Director succeeding Sabato De Sarno who stood down in February after just two years.
The Georgian designer was previously the creative powerhouse behind Balenciaga for the past ten years.
“Demna's contribution to the industry, to Balenciaga, and to the Group's success has been tremendous. His creative power is exactly what Gucci needs,” said François-Henri Pinault, Chairman and CEO of Kering, which owns both fashion brands.
Meanwhile, Dior menswear Creative Director Kim Jones stepped down at the start of the year. He also exited his role as Artistic Director at Fendi in 2024.
Burberry is searching for a new Chief Creative Officer after Daniel Lee left for Jil Sander in January.
Maison Margiela named Glenn Martens as its successor to John Galliano, who announced his departure at the end of 2024 after ten years.
At Celine, Michael Rider succeeded Hedi Slimane late last year, while at Chanel Matthieu Blazy took over from Virginie Viard, leaving Bottega Veneta.
Givenchy named Sarah Burton to the top designer job after she departed Alexander McQueen, taking over from Matthew Williamson.