Donatella Versace quits as design chief after 3 decades amid sale speculation

After the assassination of her brother, Gianni Versace, outside his Miami Beach estate in 1997, the Italian fashion designer and business magnate, who is commonly known simply as Donatella, assumed creative control of the renowned fashion company.

The 69-year-old fashion behemoth will take on the position of chief brand ambassador in April. In new role, she will continue to promote Versace globally while concentrating on assisting the brand's philanthropic and charity initiatives.

In addition to designing hotels and automobiles, Versace has managed multiple fashion campaigns for the Italian company.