Donatella Versace has been “pushed out” of her family brand, according to fashion insiders — who say it’s a “big mistake — huge” to minimize the designer who built up the company following her brother Gianni’s tragic death.
The glamorous platinum blonde, who has been a fixture in Hollywood and on the runway, will step down as designer and creative director and take on the honorary role of chief brand ambassador at the company, it was announced Thursday.
Capri Holdings, formerly Michael Kors Holdings, bought Versace in a $2.1 billion deal finalized in January 2019.
At the time Page Six was told that Donatella, 69, was “hopeful” about the partnership and “what could be built together.”
However, following months of speculation about her future at Versace as sales dipped, John D. Idol — the chief executive officer of Capri Holdings, which also owns Michael Kors and Jimmy Choo — announced she was stepping down as chief creative officer after almost 30 years. Dario Vitale, the former design and image director of Miu Miu, has been named as the new designer.
Idol called the decision “part of a thoughtful succession plan.”
However, an Italian fashion source in the know told Page Six, “They will rue the day they did this … there is no Versace without Donatella.”
Indeed, she grew the company to its multi-billion dollar valuation and has forged A-list relationships with celebs including Taylor Swift, Anne Hathway, Rihanna, Lady Gaga and Channing Tatum.
When Jennifer Lopez famously wore the iconic sheer “jungle” Versace gown to the 2000 Grammys it led to the creation of Google Images because so many people were searching for a photo of the moment.
A host of celebrities and fashion designers were seemingly shocked by the news of Donatella stepping down.
“You are the greatest Versace icon, and the most wonderful human. Auguri!!” Hathaway posted on Instagram Thursday, offering congratulations in Italian.
“You are the beating heart of Versace and always will be. We love you!” wrote Tatum, while Linda Evangelista — who strutted down the Versace catwalk at the height of the supermodels era alongside Cindy Crawford, Christy Turlington and Naomi Campbell — said, “Again and again.”
Penelope Cruz paid tribute, as did Lily Collins and top designers including Jonathan Anderson of Loewe — who Donatalla helped discover — Victoria Beckham and Pierpaolo Piccioli.
For nearly 30 years, Donatella has managed to meld Milan and Hollywood. Versace dressed the British singer Raye for her performance at the Oscars earlier this month and Donatella was spotted hobnobbing with Jeff Bezos and his fiancée Lauren Sanchez, who is a big Versace fan, at the Vanity Fair party after the show.
She also made an appearance at close friend Elton John’s annual Oscars bash for the Elton John AIDS foundation, as she was a chair of the event.
Donatella took the reins of the company after her brother Gianni — the beloved designer who founded the company — was shot on the steps of his Miami mansion in July 1997 at the age of 50.
“It was a family company and everything that Donatella did was for Gianni,” the insider told Page Six. “They can take her title, but they’ll never take her name. Everything was a labor of love for her from the atelier.”
We have reached out to Versace for comment.
Last year, in recognition of her contribution to Italian fashion, Donatella was given the Order of Merit of the Italian Republic, one of the highest honors in Italy.
The new change comes as Capri is now considering the sale of Versace after the Federal Trade Commission blocked an attempted merger with Tapestry, the owner of Coach and Kate Spade.
Prada currently has an exclusive bidding window on the brand, according to the New York Times.
“I will remain Versace’s most passionate supporter. Versace is in my DNA and always in my heart,” Donatella said Thursday in a press release.
Although she has “every intention” to continue working with Versace, the insider said, “She has a lot of irons in the fire…she has a very bright future ahead of her.”
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