Donatella Versace, the iconic Italian designer, is being ousted from her own fashion house, Versace, which she has led for the past 30 years. This development was reported by the Page Six portal, citing an industry insider.
In January 2019, the Versace brand was acquired by Capri Holdings, which also owns Michael Kors and Jimmy Choo, as part of a $2.1 billion deal. At the time, Donatella, who was 69 years old, expressed high hopes for the partnership, stating that “it will be possible to build together.”
However, Donatella is now being forced to step down from her role as the chief creative officer. Capri Holdings’ CEO, John D. Idol, announced her departure, which is believed to be linked to a continued decline in sales. Dario Vitale, the former Design and Image Director at Miu Miu, has been named as the new creative director.
Donatella succeeded her brother Gianni Versace, who was tragically murdered in 1997. She played a key role in transforming the company into a multibillion-dollar empire and developed relationships with top celebrities such as Taylor Swift, Anne Hathaway, Rihanna, Lady Gaga, and Channing Tatum.
In recognition of her significant contribution to Italian fashion, Donatella was awarded the Order of Merit of the Italian Republic last year, one of Italy’s highest honors.
In a statement, Donatella expressed her continued loyalty to the brand, saying, “I will remain the most passionate supporter of Versace. Versace is in my DNA and always in my heart.”
An anonymous source within the Italian fashion industry criticized the decision by Capri Holdings, calling it a major mistake: “They will regret the day they did it. Versace doesn’t exist without Donatella.”
Additionally, there is speculation that Versace may be sold to the Prada fashion house. According to The New York Times, Prada currently holds an exclusive window to bid for the brand.
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