Donatella Versace is stepping down from the creative functions of luxury fashion brand Versace, which she has led for almost 30 years. Dario Vitale of Miu Miu will take over, the brand's owner announced.

The change comes amid reports that larger Italian rival Prada - which owns Miu Miu - is in talks to buy Versace. The brand was founded by Donatella Versace's brother, Gianni, in 1978.

This ended the family's control of Versace's creative direction. The luxury brand was known for its ostentatious, raunchy looks for socialites, AFP reported.

Donatella Versace will become the brand's chief ambassador from April 1. Vitale will take over on the same day, owner Capri Holdings Limited said in a statement.

"It is the greatest honour of my life to continue the legacy of my brother Gianni. He was the true genius, but I hope I possess some of his spirit and tenacity," Versace said. She added that she would remain Versace's "most passionate supporter".

Since 2023, Vitale has led the design of Miu Miu, Prada's sister brand that targets a younger clientele. She is helping boost the company's profits in a challenging environment for luxury fashion.

Versace boasts "a unique heritage that spans decades and has shaped the history of fashion," Vitale said.

Fashion group Capri Holdings, which also owns Jimmy Choo and Michael Kors, has owned Versace since 2018.

Bloomberg reported earlier this month that Capri wanted nearly 1.5 billion euros ($1.6 billion) for the brand. | BGNES