The development brings to an end the family control over the creative direction of Versace, a brand beloved of jet-setters and famous for its showy, skin-baring looks and Medusa logo.

Donatella Versace, who took over the fashion label founded by her brother Gianni after his murder in 1997, will no longer serve as the house's chief creative officer, Versace announced today. She has become an iconic figure within the industry, and one of the very few women designers in a top role at fashion house.

Donatella Versace has been replaced as creative director of the fashion house founded by her late brother, Gianni Versace, assuming the new role of chief brand ambassador, Versace’s U.S. owner Capri Holdings announced on Thursday.