MILAN — A first sign of what’s to come at Versace may be uncovered on Sept. 26 when Dario Vitale will unveil his debut collection for the brand in Milan.

However, many questions linger over the brand’s future because Prada Group’s acquisition of Versace has not been completed and details so far have been scarce. While the deal to buy Versace from Capri Holdings for an enterprise value of 1.25 billion euros was confirmed in April, it will be finalized between September and November.

Given Versace’s tradition of splashy runway shows attracting a slew of A-list celebrities, Vitale’s choice of “an intimate” presentation for his spring 2026 collection is a sign of change, to be sure, but what has determined this is unknown. Could it be a cost-saving step? A temporary measure awaiting the completion of the deal? Or a test-run for Vitale, who unveiled some of his initial designs at the Venice Film Festival, dressing Julia Roberts and Amanda Seyfried? Yet the designer is no stranger to the Prada Group as he was previously ready-to-wear design director at Miu Miu, which he left in January.

Market sources speculate that Vitale, who in March was appointed chief creative officer of Versace, succeeding Donatella Versace, named brand ambassador, was actually eyeing a future outside of the Prada Group and that this reunion was not part of his plans. In fact, during a call with analysts and the press to discuss the signing of the Versace deal, Prada Group chief executive officer Andrea Guerra underscored that Vitale’s exit from Miu Miu was “his own decision, independent and very personal,” and that it was not the harbinger of this acquisition.

Pressed for further comment on Vitale at Versace, Guerra said at the time that “we are happy to find him as a trusted pair of hands in such an important position for the future of the brand, we are very happy to really welcome all the team, wherever they are in the world and whatever they’re doing. We really need to be warm and give everyone the opportunity to show their impact and their talent.”

Donatella Versace’s future at the brand has not been addressed since her change of title.

As for Versace’s CEO Emmanuel Gintzburger, Guerra said in April that “we will begin the job with him.” Sources wonder whether Lorenzo Bertelli, chief marketing officer and head of corporate social responsibility of the Prada Group, who is said to have been especially keen to buy Versace, could perhaps be eyeing that position.

His mother Miuccia Prada, also understood to have been one of the main proponents of buying Versace, will not be involved in that brand’s creative process, Guerra has said.

One thing is sure: The executive has repeatedly said it will take time to turn Versace around. “It’s important not to kill the baby while you cure it. So we will go as fast as we can and as prudent as we can in terms of branding and identity positioning,” Guerra observed in July.

Analysts have so far given generally positive reviews of the deal, confident in the Prada Group’s verticalized industrial platform compared to Versace’s underperformance under Capri’s ownership, and aligned with Bertelli’s belief that there are no overlaps in terms of creativity and customers, different aesthetics actually helping Prada and Miu Miu to pass through the inevitable fashion cycles.

The acquisition is also seen as contributing to further growth of the group, which in the first half of the year reported an 8 percent rise in revenues to 2.74 billion euros, also greatly helped by Miu Miu, whose retail sales climbed 49 percent to 780 million euros in the first half.