match: Donatela Versace is to go down from his role as the chief creative officer of the Versace brand after nearly three decades in the company founded by his late brother Jianni, the owner Capri Holdings said on Thursday.
According to the move of the move, Prada is going close to a deal to buy Versace from Capri after agreeing at a price of about 1.5 billion euros ($ 1.6 billion).
A small brand within the Prada Group, the former design and image director in MIU MIU, Dario Vitley, will play the role of Donatela as an effective creative officer on 1 April.
Donatela, 69, will play the role of the main brand ambassador in Versace.
“This has been the greatest honor of my life to carry forward the legacy of my brother Giani. She was a true talent, but I hope I have some feelings and tenacity, “Donatela said, who helped maintain the business after Giani was killed in Miami in 1997.
“I am thrilled that Dario Vitale will join us, and be excited to see Versace through the new eyes,” he said.
The announcement is the latest in a series of high-profile designer changes in the industry as it wants to rebuild its business between China and inflation-sarcastic shopkeepers.
Earlier this year, Gucci Design Chief Sabato de Sarno left the Italian label after less than two years in the job.
Brand challenges
Donatela Versace gave the brand a bold and provocative beauty. His connection with many big name celebrities helped strengthen the brand’s appeal.
However, his departure comes at a difficult time for a group established by Gianni Versace in 1978, which reported the operational deficit for the last three quarters and is for sale, according to sources.
For the financial year ending March 2024, Versa recorded a decline of 6.6% in revenue.
Versache was bought by the US Group Michael Course, now known as Capri Holdings, for 1.8 billion euros ($ 1.87 billion) in 2018. The Versace family received 150 million euros of the selling price in Capri shares.
