Donatella Versace will step away from her role as chief creative officer and move into the position of chief brand ambassador, said Capri Holdings.

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.

Donatella Versace is to step down from her creative director role at fashion house Versace, after nearly 30 years. She has held the position since 1997 and took over after the murder of her brother Gianni. Versace has overseen hundreds of fashion campaigns for the Italian brand, also designing hotels and cars.