Donatella Versace Gives Up Creative Reins of Italian Brand

Donatella Versace is giving up the creative reins of luxury fashion label Versace after nearly three decades, it was announced on March 13, effectively ending the family's hold over the brand founded by her late brother.

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The platinum blonde fixture of Italian fashion, who turns 70 in May, will be succeeded by Miu Miu's design director Dario Vitale in what some industry insiders see as a prelude to an upcoming acquisition of Versace by its larger rival Prada, which also owns Miu Miu.

The new role as chief creative officer for Vitale – a respected but little-known designer who has overseen soaring sales at Miu Miu – represents a turning point for the Versace label, which was founded in 1978 by Versace's older brother Gianni.