Berliner Boersenzeitung - Donatella Versace, fashion icon who saved slain brother's brand

One of the industry's most recognisable figures, with her platinum blonde hair and penchant for black leather and plastic surgery, Versace spent much of her early life as the self-styled muse to her older brother Gianni, who founded the flashy luxury label in 1978.

But Gianni's murder in Miami in 1997 at the hands of a serial killer thrust the youngest Versace sibling to the helm of the family fashion empire that was the darling of celebrities from Elizabeth Hurley to Princess Diana and Elton John.

Suddenly in the spotlight as new chief designer at 42, Versace faced the dual challenge of disproving those who believed the label would fail without Gianni, and finding her own voice.

"I felt for a long time that I had this job because of a tragedy, not because I deserved it," she said in a 2008 interview.

"I wanted to succeed for Gianni because he cared so much for the company and I knew he would have wanted it to carry on. But I was frightened and I had no confidence."

- Rehab -

Chain-smoking and petite -- despite her habitual high heels -- Versace had previously directed advertising campaigns and designed for ready-to-wear line Versus, but was unprepared to take over running the firm.

And she struggled, plunging into a depression chronicled in celebrity magazines -- and reflected in Versace's business, where sales began declining and profit losses began.

After years of cocaine addiction, she went into rehab in 2004, encouraged by friends including Elton John.

That same year she hired former Fendi head Giancarlo di Risio as chief executive officer.

As Di Risio strove to cut costs, reinvigorate sales and restore profits, Versace began offering more sophisticated, wearable looks in contrast to what some critics had dismissed as more vulgar previous offerings.

Out went the loud, colourful silk prints and decoration, in came more focus on cut and silhouette.

Showstoppping creations continued, nevertheless, most notably Jennifer Lopez' green chiffon jungle print dress that sent photographers into a frenzy at the 2000 Grammy Awards for its plunging bodice.

- Miniskirt and boots -

Versace was born on May 2, 1955, in Reggio Calabria, the toe of Italy's boot, the younger sister of brothers Gianni and Santo. A third sibling, Tina, died as a child.

Their mother was a seamstress who inspired Gianni, while young Donatella acted as his model.

"I was never a little girl," Versace told W magazine in 2017. "My brother Gianni would dress me and I would go out with a cire jacket, a patent leather miniskirt and tall boots."

After studying languages at University of Florence, she joined Gianni in Milan to help with the young brand's public relations.

Her forte was spotting talent and creating relationships with the growing list of celebrities and fashion A-listers as the era of supermodels began -- Linda Evangelista, Naomi Campbell, Cindy Crawford, Claudia Schiffer and others.

In 1983, she married model Paul Beck, and had two children, Allegra and Daniel. They later divorced.

After the death of Gianni, Versace inherited 20 percent of the brand, with 30 percent going to Santo and 50 percent to Allegra.

With sales hit by the 2008 financial crisis, Di Risio was replaced by new CEO Gian Giacomo Ferraris, who embarked on a restructuring that cut a quarter of the workforce but restored profitability in 2011.

In 2014, private equity group Blackstone acquired 20 percent of the brand, and four years later, Michael Kors Holding -- later named Capri Holding -- bought the company for 1.83 billion euros (then $2.2 billion), with Versace staying on to lead the creative direction.

However, the label has since been losing some of its lustre and Capri is reportedly in talks to sell Versace to Italian house Prada.

(Y.Berger--BBZ)