In The Devil Wears Prada, there is a scene in which Miranda Priestly, played by Meryl Streep, struggles to maintain her position at the top of a fashion magazine. Over coffee in Paris, Priestley slipped his boss a piece of paper with the names of “designers, photographers, editors, writers, models written on it. They were all discovered by me, nurtured by me, He promised to be with me whenever I chose to leave. ” Naturally, the boss had second thoughts and Priestley won the day.
A stylist friend recently reminded me of this scene in the context of Donatella Versace, the face of her eponymous fashion house and acclaimed designer (and star in her own right) for nearly 30 years. He gave it to me. According to reports in January, Versace’s contract with brand owner Capri Holdings is set to expire in February. Chatter, from Milan, doubts whether his contract will be renewed.
It would be an interesting turn for the 69-year-old Versace to leave the company he maintained and expanded for decades after the shocking murder of his brother and founder Gianni in 1997. What’s even more interesting is that industry insiders are buzzing about what exactly Capri will inherit if he leaves.
“Donatella is not just a great designer, she is and always will be the curator of the Versace universe,” said one entertainment executive, speaking on condition of anonymity. “So much for the talented people who want to work with her.”
Celebrity is a key element of Versace’s DNA. This dates back to the company’s early days when it became a global sensation with its ’90s models (Naomi Campbell, Claudia Schiffer, Cindy Crawford) and anointed music royalty as high fashion stars (Madonna, Cher, Elton John). It was clear from Many style publications note that the red carpet changed forever in 1991 when Crawford attended the Oscars with Richard Gere, rocking a body-hugging Versace piece in a fire-engine red dress. Similar to Priestley and her powerful roster, the Versace brand is still largely defined by the level of talent that flocks to Donatella and the clothes she creates for them.
Last year, some of the biggest names in film and music wore Versace to great effect. Anne Hathaway went on to serve as a brand ambassador for Versace, inspiring her image with playful latex pieces and a Valley of the Dolls hairstyle. Chart-topper Sabrina Carpenter wore Versace when she was named one of Time magazine’s “Next 100 Most Influential People.” Beyoncé joyfully ushered in the “Cowboy Carter” era in a vintage Versace Western-inspired number.
Perhaps this send-up from Donatella’s Fall/Winter 2023 collection, presented in West Hollywood on the eve of the Academy Awards, best describes it. The fact that Versace was able to assemble such a guest list despite changing plans is a testament to how much stars wanted to be associated with Donatella. ” Dealing with a schedule change during a marathon before an Oscar event? This is the Los Angeles equivalent of donating a kidney. Dua Lipa, Cher, Miley Cyrus, Hathaway, Channing Tatum and Lil Nas X were in the front row, but fashion insiders said it was foolish to think Capri could sustain itself without her. There is.
The Versace brand could pivot to stunt designers for hire at any time, as is the case with other historic design houses with active namesakes (without having a permanent in-house brand in today’s market). Only Versace and Miuccia Prada continue to do so). In December, Variety’s sister publication WWD reported that Capri Holdings was considering selling Versace and Jimmy Choo, the company’s other retail name. Capri could certainly mark a successful resurgence like the one Demna Gvasalia led at Balenciaga. Some of the most promising young designers were nurtured by Versace itself, including Christopher Kane and Hollywood independent fashion mainstay Jonathan Anderson. But does Versace without Donatella have any appeal?
If Capri splits its stylish elements, Donatella could easily find support for a new line. Talent executives I spoke with said she could expand her horizons with media and consumer products at any major agency. Despite a 2016 retrospective focused on photography, Versace has not produced a meaningful memoir about her life. Publishing, film and stage rights to Donatella’s life could sell for top dollar, especially because of the celebrity factor. Her story is only briefly touched upon in Ryan Murphy’s The Assassination of Gianni Versace: American Crime Story, which explores her lifestyle, insecurities, and the misogyny that Versace faced as a designer. is being touched. Penelope Cruz was nominated for an Emmy, a Golden Globe, and a SAG Award for her role as Donatella.
This is not to mention development that deals with scripted and unscripted content, as well as beauty and fragrance opportunities. Especially in this era where high fashion and show business are so intertwined. Saint Laurent has been quietly gaining strength as a film co-producer over the past few years. Less than 18 months later, Kering CEO Francois-Henri Pinault signed a $7 billion deal with talent agency CAA. But at the end of the day, Donatella is Versace, who designed dresses that were so eye-catching that they led to the creation of Google Images. Does she want to quit Versace?
A Versace spokesperson did not respond to a request for comment on the status of Donatella’s contract. That’s all until we get more clarity. As Miranda Priestly would say.
