Donatella Versace Steps Down, Prepares For New Chapter

In a move that marks the end of an era, Donatella Versace has announced her decision to step down as the Chief Creative Officer of Versace, a position she has held with distinction for nearly three decades. This significant shift in leadership comes as the fashion world continues to evolve, and Versace prepares for a potential new chapter under different ownership.

Donatella Versace took the reins of Versace in 1997, following the tragic death of her brother Gianni, the founder of the iconic fashion house. Over the years, she has been instrumental in maintaining the brand's status as a symbol of Italian luxury and glamour. Her designs have been synonymous with boldness, creativity, and a deep understanding of the Versace aesthetic, which has captivated audiences worldwide.

On Thursday, Donatella confirmed to CNN that she would be stepping down. "I am thrilled that Dario Vitale will be joining us, and excited to see Versace through new eyes," Donatella Versace expressed, reflecting on her decision to step down. "It has been the greatest honor of my life to carry on my brother Gianni's legacy. He was the true genius, but I hope I have some of his spirit and tenacity"

Dario Vitale, formerly the Design and Image Director at Miu Miu, will succeed Donatella as the Chief Creative Officer of Versace, effective April 1, 2025. This appointment marks a significant moment for the brand, as Vitale becomes the first non-Versace family member to lead the creative direction of the house. His experience at Miu Miu has prepared him well to infuse Versace with fresh energy and perspectives, building on the legacy established by Donatella

"I am truly honored to join Versace as the Chief Creative Officer and to be a part of this special and powerful fashion luxury house created by Gianni and Donatella," Vitale stated. "The House of Versace has a unique heritage that has spanned decades and has shaped the history of fashion."

While stepping away from the creative helm, Donatella Versace will not be leaving the brand entirely. She will assume the role of Chief Brand Ambassador, focusing on promoting Versace's philanthropic and charitable initiatives. This transition allows her to continue championing the brand's values and legacy, albeit in a different capacity. The timing of Donatella's departure coincides with rumors of a potential acquisition of Versace by Prada, with discussions reportedly centering around a valuation of approximately €1 billion. This speculation has been fueled by Versace's recent financial performance and the challenges faced by its parent company, Capri Holdings.

As Versace embarks on this new chapter, the appointment of Dario Vitale is seen as a strategic move to revitalize the brand's creative direction and potentially increase its appeal to potential buyers. "Attracting Vitale as the chief creative officer could make Versace more attractive to Prada and, potentially, increase the selling price," noted David Swartz, a senior equity analyst.