Donatella Versace will wrap up her nearly 30-year stint as creative director of the Versace fashion house, passing the reins to Dario Vitale, who is currently with Miu Miu, effective April 1. This announcement from Capri Holdings Limited, the parent company of Versace, signifies the close of a significant chapter for the luxury label, co-founded by her brother, Gianni Versace, in 1978.

Vitale, who has been at the helm of Miu Miu's design since 2023 and has successfully driven notable retail growth for the brand, will assume leadership at Versace during ongoing discussions about a potential acquisition of the brand by Prada, which owns Miu Miu.

Reports indicate that Prada is in advanced negotiations to purchase Versace for roughly 1.5 billion euros ($1.6 billion), though Prada executives have publicly maintained a cautious stance regarding these talks.

At 69, Donatella Versace expressed her pride in upholding her brother’s legacy while recognizing the challenges that lie ahead as she transitions to the role of chief brand ambassador.

In her new capacity, she will concentrate on Versace’s philanthropic efforts, following a turbulent period of restructuring and sales challenges that preceded Capri Holdings' acquisition of the brand for 1.83 billion euros in 2018.

Versace has developed a distinctive heritage in the fashion world, celebrated for its daring designs and celebrity clientele.

Notable creations, such as Jennifer Lopez’s legendary green gown from the 2000 Grammy Awards, emerged under Donatella's creative guidance.

The brand's offerings have grown beyond fashion, now encompassing hotels and homeware, with 230 boutiques worldwide and over 400 licensed stores.

Donatella Versace's departure marks a crucial moment for the brand, which has long been linked to high-profile fashion events and partnerships.

This leadership change prompts inquiries about the future trajectory of Versace, especially in light of the reported acquisition discussions with Prada.