Latest news with #DarioVitale
Daily Mail
2 days ago
- Entertainment
- Daily Mail
Donatella Versace, 70, is the epitome of elegance in a black midi dress as she attends Dior Menswear show at Paris Fashion Week
Donatella Versace commanded attention in a fitting midi dress as she arrived at the Dior Menswear catwalk show during Paris Fashion Week on Friday. The fashion legend, 70 - who recently stood down as Versace creative director - proved she's the epitome of class in the long-sleeve black number. The Italian businesswoman paired her ensemble with edgy dark shades and towered herself in a pair of chunky brown Versace heels - repping her family brand proudly. Donatella smiled and waved gently to onlookers as she made a typically triumphant entrance, capturing everyone's attention at the Menswear summer 2026 collection show. The socialite and business mogul appeared in jovial spirits on her arrival, carrying the essentials in a chic brown leather purse. Earlier in March, Donatella left her role as the boss of the fashion giant founded by her brother Gianni amid a 'issues' between her and the company which bought the label out in 2018. The Italian fashionista has stood down as creative director, a job she has held since Gianni's death in 1997 and has been replaced by Dario Vitale seven years after Capri Holdings purchased Versace. They announced her departure on their Instagram and revealed that the designer, who is the flamboyant face of the firm, will assume the role of chief brand ambassador from April 1 - a far lesser role, say fashion observers. 'In her new role she will dedicate herself to the support of Versace's philanthropic and charitable endeavours and remain an advocate for the brand globally.' Speaking of her exit, Donatella said: 'Championing the next generation of designers has always been important to me. It's been the greatest honour of my life to carry on my brother Gianni's legacy. He was the true genius but I hope to have some of his spirit and tenacity.' Sources close to both parties say that things have been 'very difficult' between Donatella and Capri for some time despite her being hailed as the saviour of the brand by attracting A list celebrities to wear her clothes and post about them on Instagram. In the last year alone Taylor Swift, Beyonce, Dua Lipa, Olivia Rodrigo, Sabrina Carpenter have worn the designs, as well as Anne Hathaway and Lady Gaga. Her following consists of new talent like Lil Nas X, Taylor, Miley Cyrus, K-Pop Stars as well as Hollywood legends who she continues to work with the likes of Angelina Jolie, Sir Elton John and Cher. Sabrina Carpenter looked uncharacteristically conservative in a grey pleated skirt suit at the star-studded event Donatella's ever changing look has captured fans' attention along with her iconic designs. She is known for admitting she had Botox at the beginning of her tenure as creative director She also designed the iconic green Versace silk chiffon dress which Jennifer Lopez wore to the 42nd Grammy Awards ceremony on February 23 2000 and rewore it in 2019. Donatella is the most followed fashion designer in the world on social media with over 12 million followers A fashion insider told the Mail: 'Versace now faces an enormous risk without her. Versace is now Donatella-less Versace and that now begs the question that without her designs and relationships with talent, who will wear the brand now? 'She has had a huge cultural impact in the fashion world that she has even watched her own creations have a rebirth, like JLo's green dress 'Donatella has always been the curator of talent around Versace - she brought in Madonna, Whitney and others during the Gianni era and continues to do that to this day - truly a pop culture barometer. How many female designers have grown a company that is worth $2.1 billion dollars? 'No one can dispute that Gianni was a genius - but also no one can dispute Donatella's success with Versace after her brother's passing.' Speaking of replacing Donatella, former Miu Miu design director said: 'I am truly honored to join Versace as the chief creative officer and to be a part of this special and powerful fashion luxury house created by Gianni and Donatella. 'The House of Versace has a unique heritage that has spanned decades and has shaped the history of fashion. 'I want to express my sincere thank you to Donatella for her trust in me, and for her tireless dedication to the extraordinary brand that Versace is today. 'It is a privilege to contribute to the future growth of Versace and its global impact through my vision, expertise and dedication.' Gianni died in July 1997 after being shot in the head while climbing the steps of his Miami Beach mansion aged 50.
Yahoo
11-04-2025
- Business
- Yahoo
Prada to buy Versace for $1.4B
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Prada Group has entered a definitive agreement to buy Versace from Capri Holdings for about $1.4 billion in cash, according to news releases from both companies Thursday. The deal is expected to close in the second half of the year. Under the Prada umbrella, Versace will maintain its creative and cultural identity, Prada Group said in its release. The company added that Versace has 'significant untapped growth potential.' The deal comes after Donatella Versace stepped down from her position as chief creative officer at Versace earlier this month. The role was filled by Dario Vitale, an alum of Prada Group-owned Miu Miu. The announcement comes after months of rumors that Prada Group was weighing the idea of buying Capri-owned Versace. The announcement of Vitale as creative director accelerated those rumors. Patrizio Bertelli, Prada Group's chairman and executive director, said in the release that the company was ready to build a new chapter for Versace, with a commitment to the brand's craftsmanship and heritage. 'We aim to continue Versace's legacy celebrating and re-interpreting its bold and timeless aesthetic; at the same time, we will provide it with a strong platform, reinforced by years of ongoing investments and rooted in longstanding relationships,' Bertelli said. 'Our organisation is ready and well positioned to write a new page in Versace's history, drawing on the Group's values while continuing to execute with confidence and rigorous focus.' Versace has been struggling financially over the past several quarters. In Capri's most recent quarterly earnings report, Versace revenue fell 15% to $193 million. Capri is selling Versace for markedly less than the $2.12 billion it paid for the brand in 2018. The journey of adding Versace to the Prada Group portfolio will be long and 'require disciplined execution and patience,' Andrea Guerra, Prada Group CEO, said in the release, adding that the evolution of a brand 'always needs time and constant focus.' Selling Versace frees up Capri's ability to focus on improving the sales at its Michael Kors and Jimmy Choo brands. Since the end of a merger deal with rival luxury handbag company Tapestry last year, Capri has continued to struggle. Capri implemented multiple changes since the acquisition fell through, including reorganizing the leadership structure at Michael Kors, its largest brand. John Idol, Capri CEO and chairman, said in Capri's release that the deal with Prada Group reflects Capri's commitment to further growth at its remaining two brands. 'Over the last six years, we have made tremendous progress in repositioning the brand to place greater emphasis on its luxury heritage and exceptional craftsmanship,' Idol said. 'Through elevated product, marketing and store enhancements, the brand is now well positioned for sustainable long-term growth. We are confident that Prada Group is the perfect company to further guide Versace into its next era of growth and success.' Meanwhile, Prada has challenged a luxury sector slowdown seen at rival luxury conglomerates such as LVMH. In the Prada Group's latest fiscal year, its revenue jumped 15% year over year to 5.43 billion euros, or about $6.1 billion. Prada is expected to report its Q1 earnings this month. Recommended Reading WHP Global will acquire majority interest in G-Star Raw Sign in to access your portfolio
CBS News
10-04-2025
- Business
- CBS News
Prada to buy Versace in a deal valued at $1.4 billion
The Prada Group announced a deal Thursday to buy Italy's Versace from the U.S. luxury group Capri Holdings under terms that value the fashion house at 1.25 billion euros ($1.4 billion). Prada said the addition of Versace's "highly recognizable aesthetic … constitutes a strongly complementary addition" to its portfolio, which includes the Prada and Miu Miu fashion brands. It said Milan-based Versace offered "significant untapped growth potential.'' The final value of the deal will be adjusted at closing, expected in the second half of the year. It will be funded by 1.5 billion euros in new debt and has been approved by the Prada and Capri Holdings board of directors. "Versace will maintain its creative DNA and cultural authenticity, while benefitting from the full strength of the Group's considerable consolidated platform, including industrial capabilities, retail execution and operational expertise,'' Prada said in a statement. Versace, founded in 1978 by the late Gianni Versace, has been owned since 2018 by Capri Holdings, which includes Michael Kors and Jimmy Choo. Capri Holdings paid $2 billion for Versace, but had been struggling in the recent era of "quiet luxury'' to position the stalwart of Italian fashion with its sexy silhouettes and loud patterns. Last month, Capri Holdings named Dario Vitale as creative director to replace Donatella Versace, who assumed the role after her brother's 1997 murder. Vitale came from Miu Miu, the stunningly successful youth-driven brand in the Prada Group. Versace was given the new role of chief brand ambassador in the shakeup, which was widely viewed as setting the scene for the long-rumored Prada sale. Miuccia Prada acknowledged the group's interest on the sidelines of Milan Fashion Week in February.
The Independent
10-04-2025
- Business
- The Independent
Prada agrees to buy rival fashion house Versace in a deal valued at $1.4 billion
The Prada Group announced a deal Thursday to buy Italy 's Versace from the U.S. luxury group Capri Holdings under terms that value the fashion house at 1.25 billion euros ($1.4 billion). Prada said the addition of Versace's 'highly recognizable aesthetic … constitutes a strongly complementary addition' to its portfolio, which includes the Prada and Miu Miu fashion brands. It said Milan-based Versace offered 'significant untapped growth potential.'' The final value of the deal will be adjusted at closing, expected in the second half of the year. It will be funded by 1.5 billion euros in new debt and has been approved by the Prada and Capri Holdings board of directors. 'Versace will maintain its creative DNA and cultural authenticity, while benefitting from the full strength of the Group's considerable consolidated platform, including industrial capabilities, retail execution and operational expertise,'' Prada said in a statement. Versace, founded in 1978 by the late Gianni Versace, has been owned since 2018 by Capri Holdings, which includes Michael Kors and Jimmy Choo. Capri Holdings paid $2 billion for Versace, but had been struggling in the recent era of 'quiet luxury'' to position the stalwart of Italian fashion with its sexy silhouettes and loud patterns. Last month, Capri Holdings named Dario Vitale as creative director to replace Donatella Versace, who assumed the role after her brother's 1997 murder. Vitale came from Miu Miu, the stunningly successful youth-driven brand in the Prada Group. Versace was given the new role of chief brand ambassador in the shakeup, which was widely viewed as setting the scene for the long-rumored Prada sale. Miuccia Prada acknowledged the group's interest on the sidelines of Milan Fashion Week in February.
South China Morning Post
14-03-2025
- Entertainment
- South China Morning Post
Who are Donatella Versace's children, Allegra and Daniel Versace? The late Gianni Versace's niece inherited the fashion brand at 18, while her musician brother inherited his art collection
Donatella Versace is stepping down from her role as creative director at Versace after almost three decades. Dario Vitale, Miu Miu's former brand image design director, will succeed her, as reported by the Business of Fashion. Fashion designer Donatella Versace has stepped down as creative director of Versace and appointed Dario Vitale. Photo: Reuters The 69-year-old creative – who has been the driving force behind the label since her brother Gianni Versace was murdered in 1997 – will now move into a brand ambassador role at Versace. 'It has been the greatest honour of my life to carry on my brother Gianni's legacy,' she wrote in an Instagram post. 'He was the true genius, but I hope I have some of his spirit and tenacity.' Advertisement 'I am thrilled that Dario Vitale will be joining us, and excited to see Versace through new eyes,' she added. So now that she is stepping back, what do we know about Donatella Versace's personal life, including her two children Allegra and Daniel? Here's what we've gathered. Donatella Versace has two grown-up children Donatella Versace with her son Daniel (left), daughter Allegra and their father Paul Beck in Milan, Italy, in 2007. Donatella Versace shares two children – Allegra Versace Beck, 38, and Daniel Versace Beck, 35 – with her ex-husband, Paul Beck.
