- Donatella Versace transitions to brand ambassador role after 27 years as Creative Director
- Dario Vitale (ex-Miu Miu) appointed successor amid Prada Group acquisition speculation
- Versace contributed 20% to Capri Holdings’ €5.2B 2024 revenue
- Strategic shift targets younger demographics through daring designs and accessible pricing
The Milan fashion world was stunned Thursday as Capri Holdings announced Donatella Versace’s move from Creative Director to Chief Brand Ambassador. Her successor Dario Vitale, former design director at Prada-owned Miu Miu, assumes leadership April 1 – a timing fueling industry whispers about potential consolidation between rival houses.
This transition ends Donatella’s 27-year tenure steering the brand following brother Gianni’s 1997 murder. Under her direction, Versace became synonymous with bold glamour, dressing icons from Jennifer Lopez to Lady Gaga. The house now accounts for one-fifth of Capri’s annual revenue, though recent post-pandemic focus on ultra-luxury goods reportedly alienated entry-level buyers.
Insight: Luxury analysts note Vitale’s appointment aligns with growing industry prioritization of ‘affordable prestige’ – think €500 logo belts over €5,000 gowns. Versace’s planned accessories push mirrors Louis Vuitton’s strategy capturing 63% of sales through small leather goods.
Regional Case Study: Milan’s fashion district shows diverging strategies. While Gucci leans into heritage under Sabato De Sarno, Versace’s rebranding echoes Prada’s recent streetwear collaborations. Local textile unions report 14% increased demand for mid-tier materials since January – a possible indicator of Vitale’s upcoming direction.
Capri CEO John D. Idol emphasized this as a ‘natural evolution,’ praising Donatella’s ongoing influence. The designer herself vowed to remain Versace’s ‘most passionate advocate,’ recalling her brother’s ethos: ‘Fashion without audacity is just fabric.’