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Daily Mail
17-05-2025
- Entertainment
- Daily Mail
The rise and fall of Versace: Can Prada's £1 billion buyout save Donatella's legacy?
I first met Donatella Versace 19 years ago, but still clearly remember it. The platinum-coiffed queen of bling finished her Italian breakfast – a Marlboro Red and a double espresso – and wiggled through the glass doors leading to her design studio in Milan. She began pinning a navy blue A-line dress on a model and talked and talked and smoked and smoked. She explained her style aesthetic: bleached blonde hair, Bikini Atoll tan, the darkest eye make-up on the planet and dresses cut up to 'here' (indicating the top of her thighs), and down to 'there' (making a plunging V on her chest). 'I don't like natural,' she told me. 'For me, natural has something to do with vegetables.' How we loved her and her brother Gianni. They were the king and queen of 1980s splash 'n' spend luxe. They invented celebrity culture, once persuading the world's top four supermodels of the time – Linda Evangelista, Cindy Crawford, Naomi Campbell and Christy Turlington – to walk the runway together to George Michael 's 'Freedom'. They created two of the most famous dresses ever made – Elizabeth Hurley 's safety-pin gown and Jennifer Lopez 's barely there jungle-print number – sanctioning outward displays of self-assured feminine sexuality. Gianni's acid yellow and gold baroque fantasy home on South Beach did more than Don Johnson to put Miami on the global style circuit and Versace was the first label to move on from styling clothes to styling suites. In 2000 the fashion house opened its inaugural opulent hotel on Australia's Gold Coast, south of Brisbane. I checked in shortly afterwards and it is the only hotel I have left, got to the end of the driveway and turned round and checked back in again. How could I resist one more night in Elton John heaven? Gianni was murdered in 1997 and now, after almost 30 years carrying the Medusa-head torch for excess, Donatella has left the palazzo. Last month Prada Group revealed it had bought Versace for £1 billion after its US owner, Capri Holdings, failed to reverse a dip in sales and profits as low as a Versace neckline. Under Capri, Versace's annual sales slumped to a meagre £600 million last year, compared with £6.5 billion for Gucci. 'Commercially, Versace is all but dead,' said Jonathan Siboni, chief executive of Paris-based research analyst Luxurynsight, when the deal was announced. Donatella, now 71, will stay on in an ambassadorial role. Following the news, she told her 12.5 million Instagram followers: 'It has been the greatest honour of my life to carry on my brother Gianni's legacy.' Prada could scarcely be more different from Versace. Miuccia Prada, founder of the label as we know it, is a former communist whose collections are avant garde and come mainly in her favourite colour: grey. But might, just might, opposites attract? Could Prada bring Versace back from the brink? One man who should know the answer is the chief executive who worked with Donatella when the label last turned a healthy profit. Jonathan Akeroyd, Versace's CEO from 2016 to 2022, is 'very excited' by what Prada will do. 'Versace has incredible brand equity. A lot of people can instantly identify Versace, while they wouldn't be able to identify Valentino, Fendi or Ferragamo,' Akeroyd says. He adds that its Milan atelier 'is one of the best in the world' and the brand boasts big fragrance, underwear, homeware and fashion jewellery businesses. Prada is the right owner, he says. It is an Italian family business, 'which matters to a quintessentially Italian family brand like Versace'. It also has cash to invest. Prada Group is listed in Hong Kong, with a market capitalisation of nearly £12 billion. Since the pandemic, sales have continued to grow despite a downturn in the luxury market. Revenues rose 17 per cent to £4.6 billion last year. Prada 'has an incredible awareness of product, merchandising and marketing and it executes it as well as the mighty Louis Vuitton', says Akeroyd. Its expertise in Italian manufacturing, notably shoes and bags, will be a great asset. Versace lacks an It-bag or shoe line, which is odd for a brand that, until the Prada deal, was run by a woman who is so fond of stilettos she once said: 'I never wear flats. Every time I wear them I fall over.' A make-up line could be another growth segment. Fashion analysts say the key to success will be 'persuading people to think about visiting a Versace boutique after years when it has not been on their shopping list', as Luca Solca at Bernstein puts it. After decades of 'doing the same old thing and losing relevance', Versace 'needs to interpret the Versace code in a modern way that creates buzz'. Solca suggests Prada should take a leaf out of the playbook of Pierpaolo Piccioli and Maria Grazia Chiuri, the creative directors who were hired to revive Valentino. 'They introduced the metal Rockstuds, which instantly made the brand's shoes and bags desirable.' Much rests on the youthful shoulders of Dario Vitale, 41, Versace's new creative director. He helped to create the wildly successful rebel college girl look at Prada's little sister brand Miu Miu. Can lightning strike twice? Fashion and luxury industry adviser Achim Berg sees advantages in Prada's 'growing property portfolio'. Versace's 230 boutiques and 600 other points of sale in department stores and outlet stores are, he argues, too much for a brand with a relatively small turnover. He recommends swapping a few Versace boutiques for Miu Miu. Versace and Prada executives will be swapping places, too, he predicts. 'Renewal will happen on the management and creative side.' Hospitality analysts hope Versace expands its hotel operations beyond Dubai, now its sole venue after the Australian property was sold in 2023 (it had become tired). Better operators could help; perhaps Four Seasons which is on a roll now thanks to its association with the hit TV show The White Lotus. Put it all together and Berg reckons that Versace could generate over £2 billion in annual sales. What of Donatella herself? Those who are close to Prada say that she may have a role in the celebrity side of the business. They point out that she has 'a good eye and has consistently chosen the right supermodels, actors and musicians for Versace', as one puts it – one of the latest being Lady Gaga. She could be key in persuading new stars to front 'fresh and young' advertising campaigns that connect with a generation that doesn't remember the 80s glory days. But Donatella won't be back in the Milan studio. As someone well acquainted with her puts it, 'Prada knows that if they let her in, she wouldn't be able to stop herself getting involved in design because she loves it so much. She'd be in the office all the time and it would be a distraction.' In that case, I should give the last word to Donatella because what she told me 19 years ago seems appropriate today. The queen of glitz said she wanted to re-establish Versace as 'the ultimate Italian luxury lifestyle brand' with clothes, accessories, jewellery, homeware, hotels and travel goods. 'A unique 360-degree lifestyle, 365 days a year – an Italian dream,' she said. Over to you, Miuccia Prada. Dream big.
Daily Mail
07-05-2025
- Entertainment
- Daily Mail
Cindy Crawford, 59, looks effortlessly chic in a peach blouse as she supports joins fellow supermodel Christie Brinkley, 71, at her Uptown Girl event in Los Angeles
Cindy Crawford looked effortlessly chic as she joined Christie Brinkley on stage at a Live Talks Los Angeles event at the Glorya Kaufman Performing Arts Center on Tuesday. The iconic supermodel, 59, served as moderator for the event, held to promote Christie's recently published memoir, Uptown Girl. For the event, Cindy wore a stylish peach blouse featuring a V-neckline, ruffled collar detailing, and puffed sleeves. She paired the top with dark blue wide-leg denim jeans and nude stiletto heels that added height to her frame. Cindy further accessorised her look with a gold statement necklace, hoop earrings, and a brown leather belt as she showed off her age-defying beauty with minimal makeup. Meanwhile, Christie put on a leggy display in a black, form-fitting turtleneck and high-waisted shorts with gold button detailing. She elevated the outfit with black diamante court heels and accessorised with gold hoop earrings and a silver wristwatch. To complete the look, she styled her blonde locks in a voluminous blowout and wore a glowy makeup palette highlighting her timeless beauty. Following the event, Christie took to Instagram to thank Cindy for moderating and shared several stunning photos of the supermodel holding her memoir. Christie gushed: 'I am STILL wondering how I got so lucky as to have living legend icon @cindycrawford moderate my @livetalksla for the launch of my mémoire Uptown Girl. 'She was so wonderful! Smart fun and a real pro.. she should have her own chat show.. 'I want to continue to rave about the evening but my plane is about to take off so to be continued ….. thank you all who so warmly welcomed me ! Ok taking off✈️ #uptowngirlmemoire #harperinfluence.' Cindy then took to her Instagram story to repost the stunning snap, captioning the post with: 'Great evening chatting with the original Uptown Girl @christiebrinkley about her new book.' Christie's memoir is named after the 1983 hit by her former husband, who was inspired to write the song about the supermodel. The event comes shortly after Rande Gerber, Cindy, Presley Gerber and Kaia Gerber all put their modelling hats on last week for a rare family campaign. The photogenic clan is the new face of Vuori, the performance and lifestyle brand known for its coastal California-inspired style. 'The fabric is unlike anything I've ever worn. It's so soft, so versatile, you literally never want to take it off,' said Cindy. 'It's the perfect Malibu uniform: from beach walks to workouts to errands, it moves with you effortlessly. 'Every friend I've introduced to it ends up obsessed. That's the magic of Vuori, it's designed by people who truly live this lifestyle, and you feel that quality and authenticity in every stitch, which is why it resonates so deeply with all of us.' The Gerbers are joining forces with Vuori not only for the Spring/Summer 2025 campaign but also as long-term collaborators of the brand. It marks the beginning of a multi-faceted partnership grounded in shared values of connection, quality, innovation, and the effortless fusion of style and performance. Photographed by Cass Bird and styled by Geraldine Saglio, the campaign was led creatively by the Gerber family. She elevated the outfit with black diamante court heels and accessorised with gold hoop earrings and a silver wristwatch They picked out their favourite looks from Vuori's 2025 collection. 'It was important to us to collaborate with people who could authentically capture both the spirit of Vuori and our family dynamic. Cass and Geraldine were the perfect partners,' said the Gerber Family. 'This official partnership with the Gerber family marks an exciting milestone for Vuori that's been years in the making,' said Vuori Founder and CEO Joe Kudla. 'It began when Rande Gerber discovered Vuori in a small Malibu boutique and reached out, sharing our passion for what we're building. 'A genuine friendship followed, rooted in mutual respect and shared values, and now we're excited to take that connection even further. 'Kaia and Cindy are natural muses for Vuori's women's collection, embodying strength, style, and modern femininity. And the entire Gerber family reflects a timeless yet modern approach to fashion — effortlessly blending elevated style with an authentic, down-to-earth energy that aligns perfectly with Vuori's core values.' 'From the moment I met Joe, it was clear that he's focused and knows exactly what he wants, but above all, he's just a genuinely good person who shares the same values as our family,' said entrepreneur and investor Rande Gerber. 'When we visited Vuori's headquarters, what stood out wasn't just the business, but the real, personal connections we all formed – it wasn't about deals, it was about shared stories and a mutual respect that made Joe say, We need to do something bigger together. 'And that's what sets Vuori apart: no matter how fast they grow, they keep that intimate, ego-free community where people surf at lunch, celebrate each other's wins, and stay true to the soul of Southern California living.' 'Vuori just fits into my life — whether I'm surfing, hanging with friends, or travelling. It's clean-lined, comfortable, and actually feels like me. It's not about trying too hard — it just feels good no matter what kind of day you're having,' said wellness advocate and entrepreneur Presley Gerber. 'Vuori has redefined what everyday style can look and feel like. It undoes the seams between effortless and ease. I love that I can go from a workout to a meeting. It is clothing as a return to self.' said model and actress Kaia Gerber. 'What inspired me most is how fully the Gerbers embody the very principles that define Vuori – living a multidimensional life, staying authentic, fostering genuine connection, and a commitment to making a positive impact,' Kudla said. 'At Vuori, we believe the best partnerships are built on more than just opportunity – they're built on trust, shared vision, and genuine relationships. This is one of those rare collaborations that just feels right, and we can't wait to see what we'll create together.'
