Donatella spells out the return of Versace

Donatella Versace has described her autumn/winter collection as "an alphabet of style". And, yes, as her programme notes pointed out, her ink-blue cashmere felt coats had a swingy Sixties A-line, while the upright funnel collar on an equally sleek double-breasted overcoat created a kind of "Y".

But the resounding message that this collection spelt out was youth. Only those with perfectly toned long limbs need apply for one of Versace's flirty mini-dresses - most of the hemlines in this show were defiantly buttock-grazing - that came out in navy blue or oyster-coloured silk jersey, worn with long patent boots. There were cute, girlish touches too, such as a patch pocket with a "V" picked out in patent, or more patent trim on collars and buttons.

With other design houses continuing to pay homage to the Versace archive, it's a fine time for Donatella herself to stick to the artfully ruched jersey dresses that have brought so many of Hollywood's body beautiful to her door. A final sequence of a dozen long gowns - in swimming-pool blue, palest pink or purple - were aimed squarely at the celebrity set who have remained loyal, among them Elizabeth Hurley, who sat front row at this show.

This was another much-needed strong show from the house of Versace, a brand that has staged a remarkable turnaround since 2004, when it had a €120m (£82m) debt and a creative director with a serious drug addiction. But following a spell in rehabilitation, Donatella has cleaned up and recent collections have been well received.

Over the past two years, the company has been completely restructured, with the Versace family renouncing executive management while remaining sole shareholders. The CEO, Giancarlo Di Risio, who arrived in 2004, recently stated that he expects Versace to break even by 2007.

Aristocratic British style has made a few appearances on the autumn/winter catwalks so far - the forthcoming Anglomania exhibit at the Metropolitan Museum in New York seems to have inspired designers - but it never looked as bizarre as it did strutting down the Dsquared catwalk yesterday. Transforming the Sloane Ranger's waxed jacket into a floor-sweeping coat, worn with a show-jumper's helmet and stiletto heels, or slinging a sporran around the waist of a tartan trenchcoat, the brand's designers, Canadian twins Dan and Dean Caten, had fun with a pastiche of posh dressing. The core Dsquared product is denim, though, and interspersed among the jokey outfits, there were plenty of jeans, worn low on the hips and cropped short.