By Connor Hart
Shares of Versace-owner Capri Holdings climbed after the company said Donatella Versace would step down as chief creative officer of her family's high-end fashion house following nearly three decades in the role.
The stock was up 8.3%, to $21.09, in afternoon trading Thursday. Shares have edged lower since the beginning of the year and lost more than half their value in the past 52 weeks.
Dario Vitale, the former design and image director at Miu Miu, is expected to succeed Donatella Versace as Versace's chief creative officer, effective April 1. At that time, Donatella Versace will transition to the role of chief brand ambassador, supporting the brand's philanthropic and charitable projects.
The transition comes amid declining demand for luxury brands' high-priced apparel and accessories, which has prompted companies across the sector to switch up their operations. Gucci, owned by Kering, replaced its creative director last month, joining a string of other brands that have recently replaced their creative heads.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 13, 2025 15:19 ET (19:19 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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