Versace's Creative Director Steps Down After Just Nine Months Amidst Prada's $1.4 Billion Takeover
In a shocking move, Dario Vitale, Versace's creative director since March, has left the fashion house just weeks after its acquisition by rival Italian luxury brand Prada for $1.4 billion. The decision comes as part of Prada's efforts to bolster its portfolio and challenge the existing French luxury conglomerates.
Vitale's departure is seen as a major blow to Versace, which had been reaping benefits from his unique perspective outside the family dynasty. However, some critics argue that he was not well-suited for the role, citing mixed reviews of his recent designs. In July, influential Instagram account @boringnotcom predicted Vitale's departure, stating "I told you so" after questioning his ability to lead Versace.
Prada's leadership had also expressed doubts about Vitale's suitability, with chief executive Andrea Guerra avoiding questions about him during investor calls. The company's decision to let Vitale go is seen as a calculated move to reassess its creative direction and ensure a more cohesive brand identity under Prada's umbrella.
Vitale's departure marks the end of an era for Versace, which had recently reported a 15% drop in year-on-year sales. His successor will face significant challenges in reviving the brand's fortunes, but top-level designers such as Olivier Rousteing and Kim Jones are reportedly free to join the fray.
The acquisition by Prada is seen as a strategic move to become a luxury fashion powerhouse rivaling LVMH and Kering. As Versace's creative team reports to new chief executive Emmanuel Gintzburger, it remains to be seen whether the brand can regain its footing under the guidance of its new owners.
In a shocking move, Dario Vitale, Versace's creative director since March, has left the fashion house just weeks after its acquisition by rival Italian luxury brand Prada for $1.4 billion. The decision comes as part of Prada's efforts to bolster its portfolio and challenge the existing French luxury conglomerates.
Vitale's departure is seen as a major blow to Versace, which had been reaping benefits from his unique perspective outside the family dynasty. However, some critics argue that he was not well-suited for the role, citing mixed reviews of his recent designs. In July, influential Instagram account @boringnotcom predicted Vitale's departure, stating "I told you so" after questioning his ability to lead Versace.
Prada's leadership had also expressed doubts about Vitale's suitability, with chief executive Andrea Guerra avoiding questions about him during investor calls. The company's decision to let Vitale go is seen as a calculated move to reassess its creative direction and ensure a more cohesive brand identity under Prada's umbrella.
Vitale's departure marks the end of an era for Versace, which had recently reported a 15% drop in year-on-year sales. His successor will face significant challenges in reviving the brand's fortunes, but top-level designers such as Olivier Rousteing and Kim Jones are reportedly free to join the fray.
The acquisition by Prada is seen as a strategic move to become a luxury fashion powerhouse rivaling LVMH and Kering. As Versace's creative team reports to new chief executive Emmanuel Gintzburger, it remains to be seen whether the brand can regain its footing under the guidance of its new owners.
i feel bad for him, he only lasted 9 months 
guess prada's takeover is already having an impact on their creative direction 
what do u think? will they be able to revamp the brand and make it iconic again? 
gotta respect olivier rousteing and kim jones tho 
they're always killing it with those fashion shows 
I'm kinda surprised about Dario Vitale leaving Versace so soon after Prada took over. I mean, you'd think they'd want someone with a bit more experience in their corner, especially considering the big $$$ that came with the acquisition 
. But I guess Prada's all about shaking things up and making some bold moves 
. Now it'll be interesting to see if Olivier Rousteing or Kim Jones can bring some new energy to the brand... they've got a tough job ahead of 'em, but I'm rooting for Versace to bounce back 
!
and people were already trash talkin him on instagram like "i told you so" 
what's the big deal? he had a bad run but who doesn't have ups and downs in fashion? prada's just tryna shake things up & get a fresh vibe goin 
like, he was never gonna bring anything revolutionary to that stagnant brand anyway. Prada's move is genius - they're shaking things up and making sure their own creative vision takes center stage. I mean, who needs Versace's "unique perspective" when you have a luxury powerhouse backing you? 
i mean $1.4 billion is a huge sum for one fashion house, but will they really be able to revive versace's fortunes? it seems like vitale was already struggling to make an impact after just nine months on the job 
and now the brand is losing its creative direction too... some people are saying prada is trying to buy its way into being a luxury powerhouse, but can they really compete with lvmh and kering? 
The thing is, Prada's trying to revamp Versace's image and get it back on track, so Vitale's departure makes sense in a way. They need someone new to bring their own vision to the table. But at the same time, you feel bad for Vitale - he was only there for nine months! 
It's gonna be interesting to see how this all plays out... I'm keeping an eye on it 
, like I check Versace's website and see those designs and think "hmm" 
. Meanwhile, Olivier Rousteing and Kim Jones are like, totally down for the new gig 
. It'll be interesting to see how Emmanuel Gintzburger does his thing as CEO 
. Guess we'll just have to wait and see if Versace can bounce back from this change 
. And I'm wondering what @boringnotcom was thinking with those 'I told you so' comments 
!