News broke this morning that Dario Vitale , who was hired by Versace in March to succeed Donatella Versace as the first non-family member to helm the creative operations of the brand, is exiting the label. Vitale showed just one collection for the label in September and will exit the brand officially on December 12.

It wasn’t the only shakeup at Versace this week. On Tuesday, Versace was officially acquired by the Prada Group—which includes labels like Prada, Miu Miu, and Church’s in its portfolio—in a $1.25 billion deal and Lorenzo Bertelli , the Prada family scion, was announced as executive chairman of the brand. It is certainly a new beginning for the label, which despite being a cultural powerhouse has faced financial difficulties in recent years. Brand revenues had declined

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