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 Thursday, effectively ending the family’s hold over the brand founded by her murdered brother.

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The platinum blond 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. The brand, beloved by jet-setters, and famous for its Medusa logo, has weathered ups and downs in its decades on the fashion scene, but the vision and philosophy behind its showy, skin-baring looks have always been steered by a Versace. Donatella Versace will now become the label's chief brand ambassador beginning April 1, the same day Vitale takes over, owner Capri Holdings Limited said.

"It has been the greatest honour of my life to carry on my brother Gianni's legacy. He was the true genius, but I hope I have some of his spirit and tenacity," Versace said.