By Denny Jacob

Donatella Versace is stepping down as chief creative officer of the Versace brand, ending a more than quarter century run as the creative mind behind her family's high-end fashion house.

Versace-owner Capri Holdings said Thursday that Donatella Versace will become chief brand ambassador, effective April 1, a role that will support the brand's philanthropic and charitable projects.

She will be succeeded by Dario Vitale, the former design and image director at Miu Miu.

Versace was started by the late Gianni Versace in 1978. Donatella Versace became the company's creative director after her brother was gunned down outside his house in Miami Beach in 1997.

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

Capri acquired Versace for about $2.12 billion in 2018. Other brands in its portfolio include Michael Kors and Jimmy Choo.

Luxury brands across the board are attempting to reset their operations as demand for their high-priced apparel and accessories has waned. China, providing a reliable market for growth in recent years, has seen demand for luxury products cool lately, due to a sluggish economy.

Tariffs imposed by the U.S. and ones issued by other countries in response may further suppress such purchases.

The number of luxury goods sold globally collapsed by more than a fifth between 2022 and 2024, according to estimates from the consulting firm Bain & Co.

Personnel changes at luxury brands signal the need for top designers to stoke demand through innovative new products that customers feel justify their price tag. Gucci, owned by Kering, in February replaced its creative director, joining a string of other brands to replace their creative heads recently.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

March 13, 2025 10:21 ET (14:21 GMT)

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