Donatella Versace Steps Down: A New Era for Versace with Prada Acquisition Looming

Donatella Versace is stepping down after nearly 30 years as Versace's main designer, amidst talks of the brand's sale to Prada. Dario Vitale will succeed her as Chief Creative Officer. This change coincides with possible acquisitions, including Jimmy Choo, by Prada from Capri Holdings.

After nearly three decades at the helm, Donatella Versace is stepping down from her role as the main designer of the Versace brand. This decision aligns with rising speculation about a prospective sale to Italian fashion house Prada.

Dario Vitale, who previously served as Design and Image Director at Miu Miu, will assume the position of Chief Creative Officer effective April 1. Capri Holdings, the parent company, made this announcement as reports emerged of Prada nearing a 1.5 billion euro deal to acquire Versace.

While Donatella transitions to Chief Brand Ambassador, she expressed her excitement for the change and the fresh perspective Vitale will bring to Versace. The shift comes amid wider industry reconfigurations, with Versace grappling to regain relevance among European luxury brands, and giants like Gucci also adjusting to market challenges.

(With inputs from agencies.)