Donatella Versace, one of the fashion world’s best-known designers, is to step down as chief creative officer of the Versace brand after almost three decades in the role at the company founded by her late brother Gianni. The move, announced by owner Capri Holdings on Thursday, comes amid reports that Prada is moving closer to a deal to buy Versace from Capri after agreeing to a price of nearly 1.5 billion euros ($A2.
6 billion). Dario Vitale, former Design and Image Director at Miu Miu, a smaller brand within the Prada group, will take Donatella’s role as Chief Creative Officer effective on April 1. Know the news with the 7NEWS app: Download today Donatella, 69, will take on the role of chief brand ambassador at Versace.
“It has been the greatest honour 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,” said Donatella, who helped to keep the business going after Gianni was killed in Miami in 1997. “I am thrilled that Dario Vitale will be joining us, and excited to see Versace through new eyes,” she added.
The timing of the move was intriguing with Prada seen as on the cusp of a deal that would unite two of the biggest names in Italian fashion. “Versace has been struggling, so it’s not surprising that a change is being made,” said David Swartz, an analyst with Morningstar. “The brand has lost relevance and has fallen behind similar European luxury brands.
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