After nearly 30 years, Donatella Versace steps down as brand's creative officer

Capri Holdings said on Thursday Versace brand's chief creative officer, Donatella Versace, will step down and hand over the reins to Italian luxury brand Miu Miu's Dario Vitale.

"Chief Creative Officer Donatella Versace will assume the role of chief brand ambassador effective April 1, 2025," the same day that Vitale will take over, Capri said in a statement.

The move comes amid reports earlier this month that Italy's Prada was moving closer to a deal to buy Versace from Capri after agreeing to a price of $1.6 billion.


Versace, founded in Milan in 1978 by late Italian designer Gianni Versace and still led by his sister Donatella as creative director, became known for its bold, opulent prints, including the iconic Medusa motif.

Prada, whose rigorous, intellectual style bears the imprint of creative head Miuccia Prada, has been defying the industry's downturn with sales up 18% at constant currencies in the third quarter.

Versace accounted for a fifth of Capri's revenue in the fiscal year through March 30, 2024, or $1 billion out of a total of $5.2 billion for the group, which compared with $5.6 billion the year before.

In November, Capri posted a bigger-than-expected drop in quarterly revenue, hurt by execution missteps and a global slowdown in luxury goods demand.