The fickle world of fashion has experienced many differences between creatives and money men. Often the money men come out on top, as when Francois Pinault’s PPR Group parted company with Tom Ford or Valentino “retired” from his own fashion house after it was taken over by Permira, a private equity firm.

But at Versace, the creatives rule. After a boardroom clash with the Versace family, which controls the Milan-based fashion house, Giancarlo di Risio, chief executive, will step down shortly.