There’s a scene in “The Devil Wears Prada” where Meryl Streep’s Miranda Priestly struggles to keep her top fashion magazine job. Over coffee in Paris, Priestly tosses a piece of paper to his boss with the names of “designers, photographers, editors, writers, models – all of whom have been found by me, nurtured by me and have promised me that they will follow me when and if ever I choose I to leave.” Of course the boss changed his mind and Priestly won the day.
A stylist friend recently reminded me of this scene in connection with Donatella Versacethe acclaimed designer (and star in her own right) who has been the face of her eponymous fashion house for nearly 30 years. A January Report said Versace’s contract with her brand’s owner, Capri Holdings, expires in February. Chatter from Milan wonders if that deal will be renewed.
It would be a fascinating pivot for Versace, 69, to leave a company she sustained and scaled for decades after the shocking murder of her brother and founder Gianni in 1997. More interestingly, it has industry tongues wagging about what exactly Capri inherits if she goes from there.
“Donatella is not only a great designer, she is and always has been the curator of the world of Versace,” said an entertainment executive, speaking on condition of anonymity. “And it’s about the talent that wants to work with her.”
Celebrity is a dominant strand in Versace’s DNA. This was evident in the early days when the house made global sensations with its 90s models (Naomi Campbell, Claudia Schiffer, Cindy Crawford) and anointed music royalty as high fashion stars (Madonna, Cher, Elton John). 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 creation in fire engine red. Not unlike Priestly and her powerful roster, the Versace brand is still very much defined by the level of talent that flocks to Donatella and the clothes she makes for them.
Last year, some of the biggest figures in film and music wore Versace to great effect. After Anne Hathaway continued as brand ambassador for Versace – electrifying her image with playful latex creations and “Valley of the Dolls” hair. Topper Sabrina Carpenter wore Versace for her induction as one of Time Magazine’s 100 Next Most Influential. Beyonce happily ushered in her ‘Cowboy Carter’ era in a vintage Versace Western-inspired number.
Perhaps best illustrated this mailing from Donatella’s fall 2023 collection unveiled in West Hollywood, on the eve of the Oscars: “A rainy forecast forced the Versace team to push everything a day early. The fact that Versace was still able to pull such a guest list with the change of plans proves how much the stars want to be involved in anything Donatella.” Accommodating schedule changes during pre-Oscar marathon? It’s the Los Angeles equivalent of donating a kidney. Dua Lipa, Cher, Miley Cyrus, Hathaway, Channing Tatum and Lil Nas X were all on the front row, and fashion insiders say Capri would be foolish to think they could keep it up without her.
The Versace brand could always turn to an incredible designer for hire, as has been the case with other historic design houses with living names (Versace and Miuccia Prada are the only enduring flag bearers of their own houses in the current marketplace). In December, Amount sister magazine WWD reported that Capri Holdings was explore a sale by Versace and another of its household store names, Jimmy Choo. Capri could certainly point to successful revivals like the one Demna Gvasalia has led at Balenciaga. Some of the most promising young designers have been nurtured by Versace himself, including Christopher Kane and Hollywood indie fashion heartthrob Jonathan Anderson. But would a Donatella-less Versace have any appeal?
If Capri were to split the neat atom, Donatella could easily find support for a new line. Several talent reps I spoke with said any of the big agencies could expand their world into media and consumer products. Despite a 2016 retrospective that was heavy on photography, Versace has produced no meaningful memoir of her life. The publishing, film adaptation and stage rights to Donatella’s life story could fetch top dollar, especially thanks to the celebrity component. Her story was marginally explored in Ryan Murphy’s “The Assassination of Gianni Versace: American Crime Story,” although it touched on issues such as her lifestyle, insecurities, and the misogyny Versace has faced as a designer. Penelope Cruz received Emmy, Golden Globe and SAG Award nominations for her portrayal of Donatella.
This is to say nothing of development deals for scripted and unscripted content, as well as beauty and scent capabilities. Especially in a moment where high fashion and show business are intensely united. Saint Laurent has been quietly building power as a co-producer of films for years. Less than 18 months ago, Kering CEO François-Henri Pinault closed a $7 billion deal for talent agency CAA. But in the end, Donatella is a Versace who designed a dress so show-stopping that it led to the creation of Google Images. Does she want to leave Versace?
A Versace spokesperson did not respond to a request for comment on the status of Donatella’s affair. Until there is more clarity, that’s all. As Miranda Priestly would say.
