Donatella Versace officially announces that it will end nearly 30 years of Versace's career as a designer

Donatella Versace announced her resignation from the position of Chief Creative Officer after nearly 30 years in charge of Versace. This Italian fashion legend has taken over the design power since his brother and brand founder Gianni Versace was killed in 1997 and will now be transferred to the “Chief Brand Ambassador”. She was replaced by Dario Vitale, who served as design and image director at Miu Miu, who will officially become Versace's new chief creative officer on April 1.

“It is my greatest honor in life to be able to continue my brother Gianni's will. He is a true genius, and I hope I have inherited some of his spirit and tenacity,” Donatella said in a statement. She admitted that she was looking forward to looking at Versace from a new perspective. After becoming chief brand ambassador, she plans to focus on brand charity projects, such as Versace Foundation, founded in 2022 by parent company Capri Holdings, which is committed to supporting the LGBTQIA+ community and exert influence by raising awareness, preserving history and culture, and promoting equality, health and safety.

Capri Holdings CEO John D. Idol said the personnel adjustment was “part of a well-thought-out succession plan.” Capri Holdings owns Michael Kors and Jimmy Choo, and the announcement comes as Miu Miu's parent company Prada Group negotiates in-depth with Capri Holdings to acquire Versace. Last week, Prada Group had agreed to acquire Versace for nearly 1.5 billion euros (about 1.6 billion US dollars), and the two sides are expected to reach a deal by the end of this month.

Looking back on 2018, Capri Holdings acquired Versace with an ambitious goal to build it into a $2 billion brand annually. However, despite Versace's fashion status, sales in the past year were only slightly higher than $1 billion, and the latest financial report also showed that quarterly revenue fell by 28.2%, and the growth path was obviously not as expected.

The new chief creative officer Dario Vitale resigned from Miu Miu in January this year, and during his tenure he successfully promoted the brand founded by Miuccia Prada to grow against the trend when the luxury market is sluggish. In 2024, it became a record year for Miu Miu, with retail business growing by as much as 93%, with outstanding results. Now, he will bring this energy to Versace. “Vitale is a rare talent, he understands Versace's core values ​​and is aware of the brand's growth potential. We believe his experience and vision will inject a brand new perspective into the brand.”

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