The Italian designer, who took over the role of Artistic Director of the legendary Versace house 20 years ago following her brother Gianni’s death, will accept the award at a ceremony to be held on December 4 at the Royal Albert Hall in London.

Versace said she was “truly honoured” to receive the award, stating: “For 40 years my brother and I have done what we love and that is a legacy I am honoured to continue and uphold. We have celebrated empowerment, joy and of course glamour.” She added: “I am truly humbled by how Versace has been embraced across the decades, across the world and across the generations."