Donatella Versace will step down as chief creative officer of the brand and assume the role of chief brand ambassador on April 1.

“Today’s announcements were part of a thoughtful succession plan for Versace,” said John D Idol, chairman and CEO of Capri Holdings.

“Since 1997, Donatella has led the creative vision for the House of Versace and played an integral role in the company’s global success.”

“Championing the next generation of designers has always been important to me,” commented Donatella. 

“In my new role as chief brand ambassador, I will remain Versace’s most passionate supporter. Versace is in my DNA and always in my heart,” she added.

Dario Vitale, former design and image director of Miu Miu, will succeed Donatella as the house’s new chief creative officer.

He is a strong design leader, and we are confident that his talent and vision will be instrumental to Versace’s future growth,” Idol said of Vitale.

Capri reported a 11.6 per cent decrease in sales for the third quarter, with Versace down 15 per cent, Jimmy Choo down 4.2 per cent and Michael Kors down 12.1 per cent.