Rumors will always be brought to light. And in the world of fashion, where whispers often cross the border, many of the unimaginable gossips turn out to be the most true. Such is the case with Donatella Versace, who recently posted a triumphant carousel of her year’s highlights during a not-so-rosy period for the brand (sold to Capri Holdings in 2018 for $2.1 billion). It reappeared on many fans’ feeds. ). Capri Holdings is selling Versace along with Jimmy Choo after a billion-dollar deal with Tapestry falls through, according to several rumors that have given substance to a recent WWD article and social media chats and posts. consider that However, his contract with Donatella Versace, who has been creative director for decades, may soon come to an end, with her contract expiring in February next year. Therefore, it may not be updated. Of course, neither the brand nor Capri Holdings have acknowledged anything, but many people have seen the carousel the designer posted, the last slide of which shows her flatly saying ” That’s it,” the video said. A note of conclusion. But does Donatella Versace’s departure from Versace represent a realistic possibility?
The first impression is that Donatella Versace never abandoned the brand founded by her legendary brother Gianni and always ran it together with her brother Santo, who is now president, and her daughter Allegra. Nevertheless, by selling the brand to Capri Holdings, the Versace family will operate not too dissimilar to what Tom Ford and Dries Van Noten have run in recent years, with some decision-making rights transferred to new management. I gave it up to someone. The common thread seems to be that the role of the creative director is evolving. Designing clothes today is just one part of a larger, riskier, more arduous, and perhaps less creatively stimulating process that many of the designers who rose to fame in the 90s went through. . In the early 2000s, brands became too large for the efforts of a single individual in terms of distribution, number of collections, and product categories, and began to become independent as they exceeded even their original mission of producing fashion in the strict sense. Now, assuming this rumor is true and Donatella Versace’s contract as creative director is not renewed at its next expiration, this doesn’t necessarily mean she’s leaving the brand. Three members of the Versace family are still members of the company’s board of directors, so stepping back from creative direction essentially means that Donatella Versace is reducing her responsibilities without completely retiring from the scene. There is a possibility that
Of course, things may change if the brand changes hands, but it’s probably not wise for management to separate a brand from its eponymous family unless the family itself wants to do so. This brings us to the second rumor reported by WWD: John Idol, CEO and president of Capri Holdings, has repeatedly clashed with Donatella Versace over brand strategy. As a result, brand and product identities became less exciting. We have also significantly reduced our product offering for aspirational consumers in order to enhance our brand. ” These words make us think about how brands need renewal, or even just novelty, beyond invisible organizational and logistics strategies. It remains to be seen what the future holds for Donatella Versace at Versace, but perhaps the upcoming Milan Fashion Week show will provide a hint. If this is indeed her last show, it will definitely be more spectacular than usual. The upcoming shows of Maria Grazia Chiuri at Dior and Silvia Venturini Fendi at Fendi are expected to attract similar attention, but these are just rumors.
