Donatera Versace took her final runway bow.
Versace, the younger sister of founder Gianni Versace and a woman who intervened to protect the company after the 1997 murder, left her position as the top creative officer almost 30 years later. She will become the Chief Brand Ambassador. This is an honor role that includes charities and red carpets (and red carpet charity). Miu Miu's former design and image director, Dario Vitale, has been appointed as the new designer.
In a release on Thursday, Capri Holdings CEO John D. Idol, CEO of Capri Holdings, which owns Michael Kors and Jimmy Chew, called the decision “part of a thoughtful succession plan.”
This change comes as Capri is considering selling Versace after the Federal Trade Commission blocked an attempt to merge with Coach and Kate Spade owner Tapestry. Currently, Prada has an exclusive bidding window for the brand, but according to people close to the situation, it is not officially permitted to talk about this subject.
Versace, 69, was the embodiment and mentoring of Versace, but she was never expected to become a designer. She took on the role after her brother was shot on the stairs of his Miami Mansion. Despite not receiving formal fashion training, she has grown into a beloved figure within the company and industry.
“Transfering on the legacy of my brother Gianni was the greatest honor of my life,” Versace said in a news release. “He was a true genius, but I hope I have his spirit and tenacity.”
A rare woman at the top of major fashion brands, she struggled with her long platinum hair, with her personal tragedy, self-doubt, creative feet and finding drugs. The fun and shy aesthetic established by Versace became part of her signature, and for the 2000 Grammy Awards, she put Jennifer Lopez in a “jungle dress” and cut it into his belly button. There were so many search queries for appearances that Google Images was born.
Celebrities and supermodels loved her. She is the champion of LGBTQ rights and may have the most Instagram followers of the designers (12.2 million). As a result, she became one of the world's most famous designers, with Lady Gaga, Penelope Cruz, Gina Gershon and Maya Rudolph performing on-screen.
She was so easy to caricature, so she wasn't given enough credibility to Versace's success. However, in 2018, Capri (known at the time as Michael Kors) paid $2.1 billion for a brand that included household goods and hotel designs. Idol said it “is one of the most famous in the world, with great reach and great growth potential. Still, Versace doesn't fit comfortably into American groups and sales are declining.
Last year, in recognition of her contributions to Italian fashion, Versace was given an order for the Italian Republic to accomplish.
“Versace is today for Donatella Versace,” Versace CEO Emmanuel Ginzberger said in a news release.
Now, after two years as design director for one of fashion's most amazing success stories, it's up to Vitale to continue that legacy. MIU MIU revenues increased 97.3% in 2024. This was a year in which many of the industry lost sales due to consumer uncertainty and a wider industry slowdown. This has become one of the most consistently driving homes in fashion conversations, and has managed to bridge the gap between influencers and intellectuals.
Vitale called her work at Versace a “privilege” and thanked Versace for “trusting her trust in me.”
If Prada is seriously considering purchasing Versace, it is probably not a drawback that the new designer is someone with a history of working well with Miucci Aprada (Versace's best friend).
But no matter what happens, Versace said in the release: “I remain Versace's most passionate supporter. Versace is in my DNA and always in my heart.”
