An All-New Versace
Versace has been bought by the Prada Group Capri Holding only weeks after Donatella announces taking a step back from the brand.
Photography by Zoë Ghertner and Rob Willey via Instagram. © All rights belong to their respective owners. No copyright infringement intended.
Since the first of April 2025, Versace’s name has been on the lips of everyone in the fashion world. After more than two and a half decades at the helm of the mighty house, Donatella Versace transitioned from chief creative officer to chief brand ambassador. While she will still be heavily involved in the label, her leading role will be taken over by Dario Vitale, who made a name for himself as design director of Miu Miu. Although this change rocked the world of designer fashion, it was just the beginning of Versace’s 2025 evolution.
Donatella via Instagram with the caption “I hope I’ve made you proud so far”© All rights belong to their respective owners. No copyright infringement intended.
Less than one month after Donatella’s announcement, it was announced that Prada would be buying Versace from its parent company, Capri Holdings. With such giants as Jimmy Choo and Micheal Kors under its ownership, Capri Holdings is still fulfilling their “commitment to glamorous style” (Capri). However, agreeing to sell Versace for 1.38 billion dollars is definitely a shocking move, especially after purchasing the label for 2.1 billion dollars only 7 years ago (Guardian). Inside sources suggest that Capri made the move to sell to reduce their debt, which many high-fashion brands have been struggling to avoid due to the drastic decrease in demand for luxury goods since 2019 (McKinsey & Co.).
Somehow, the Prada Group has avoided this downturn, and is instead seeing unprecedented growth. One of the brands that has helped the Group through these tumultuous times is none other than Miu Miu, whose design director has just transitioned to a position at Versace. Donatella herself said she was “absolutely delighted for Versace to become part of the Prada family” in a post to her Instagram. Patrizio Bertelli echoed this sentiment, saying the Prada Group is “ready and well positioned to write a new page in Versace’s history” (Guardian) which should leave Versace devotees feeling reassured, especially as this is not the first daring new page the brand has turned since its founding.
Miuccia Prada and Donatella Versace via Instagram. © All rights belong to their respective owners. No copyright infringement intended.
The story of Versace is one of the most dramatic, bold, and tragic in the entire fashion industry. Founded in 1978 by visionary Giovanni “Gianni” Versace, the brand’s mission was always intertwined with Gianni’s own, to create innovative designs that seamlessly marry Italian traditions with modern trends. Gianni was among the first to popularize the supermodel– catapulting the likes of Naomi Campbell, Shalom Harlow, Kate Moss, and Claudia Schiffer into stardom–which forever altered the relationship between high-fashion and pop culture. Then, tragedy struck in 1997, when Gianni was murdered in his own home. Donatella somehow managed to create beauty within her grief, and was able to take over her late brother’s label while maintaining his original mission. Since then Donatella has worked tirelessly to do right by her brother’s legacy and continue to achieve the standard of excellence he set.
“Gianni’s Girls” photographed by Vittoriano Rastelli for Getty Images via Refinery 29. © All rights belong to their respective owners. No copyright infringement intended.
The new ownership and leadership of this iconic label will undoubtedly lead to an evolution of what Versace represents. However, with Donatella still closely involved in the brand, and the generations celebrity cult following, Vitale and the Prada Group will have all eyes on them as this new era comes to pass.
