Silvia Venturini Fendi is stepping down from LVMH label Fendi and becoming honorary president of the fashion house, the French luxury group said on Monday.
The group said that a new creative direction for the label will be announced "in due time."
The departure from the creative direction role of a representative of the third generation of the Fendi family at the brand comes as high-end fashion houses across the industry undergo a creative revamp aimed at reviving sales amid a prolonged luxury slump.
Venturini Fendi worked in the artistic direction of the Italian fashion house since the early 1990s, alongside Karl Lagerfeld. She focused on accessories and menswear before moving to women's designs.
Her new role promoting the brand's history comes as a new generation of designers takes over some of the biggest names including Gucci, Dior, Chanel and Versace.
LVMH, where sales of its fashion division have declined this year, in April named Ramon Ros CEO for Fendi.
Last Wednesday, at Milan Fashion Week, Venturini Fendi showed a colorful collection for the brand with a sporty flair on a runway set made of multicolored blocks.
