Nothing says Versace quite like a 20ft gold safety pin and a black runway studded with Medusa heads, and this was the sight that greeted guests as they arrived at the Italian fashion house’s autumn/winter 2019 womenswear show in Milan.

Facebook Twitter Pinterest A detail shot from the Versace show featuring the new V emblem Photograph: WWD/REX/Shutterstock

Versace was unveiling its third collection since it announced it had been sold to Capri Holdings for £1.64bn, but the first womenswear ready-to-wear since the deal was sealed. It was all about celebrating the brand’s most famous iconography, said Donatella Versace before the show.

Versace was, of course, the brand that inducted the safety pin into the sartorial vernacular thanks to “that dress” Elizabeth Hurley wore to the London premiere of Four Weddings and a Funeral in 1994. Designed by founder Gianni, the strappy black bustier gown held together by smaller versions of the safety pin set the benchmark for risque red carpet dressing and made Versace synonymous with high-wattage sex appeal.

Facebook Twitter Pinterest Elizabeth Hurley wearing ‘that dress’ at the premiere of Four Weddings and a Funeral in 1994. Photograph: Richard Young/Rex Features

But 25 years later, the rules of risque have been redefined. Versace was in a thoughtful mood, admitting before the show to feeling more nervous than usual. “We are more not sure who to believe [these days]. People are thinking and talking and being more awake – I think you have to stop for a while and think again,” she said. “I really feel like I have something to say.”

While the high-wattage still runs strong, the overt sex appeal has softened for this collection with the introduction of layers of raw-edged tweed, deconstructed and ripped-looking knitwear held together by embellished pins and brooches, and spangly strappy tops and dresses worn over long-sleeved ribbed tops and clashing lace tights.

Far from revealing, this was a collection of layers. Beneath the power-suiting were shirts and polo necks. Where Versace revisited themes of bondage with black satin bodice dresses, they were worn with T-shirts and everyday ribbed tees.

Facebook Twitter Pinterest Raw-edged tweed and distressed knitwear Photograph: Davide Maestri/WWD/REX/Shutterstock

Shoes were grounding: easy-to-walk in kitten heels, cowboy loafers and chunky boots worn with socks. Outerwear was cosy: wool tweed and herringbone coats displaying the house’s new V emblem. And a new everyday bag called the Virtus, named after the Roman god of bravery and strength, made its debut.

Elsewhere, layers of lace evoked “the grandeur of the 90s” but with a bit of grunge. “I think a little bit of imperfection is the new perfection,” Versace explained.

Harking back to its supermodel heyday, Stephanie Seymour and Shalom Harlow opened and closed the show, which was a who’s who of the current crop of talent: Gigi and Bella Hadid, Adut Akech, Kendall Jenner and Edie Campbell among them.

Facebook Twitter Pinterest Layer cake: when one top isn’t enough Photograph: WWD/REX/Shutterstock

Further exploring its own archive, the brand partnered with the Richard Avedon Foundation and featured the 1995 campaign for its perfume Blonde, shot by the legendary photographer and starring Donatella herself. The image featured on leisurewear. Although only enjoying its debut, Versace reveals that she already plans to use old archive campaigns in future collections.

The throwbacks are proving profitable. This month, the search engine Lyst ranked Versace No 6 on its hottest brand index for the fourth quarter of 2018 after analysing the online shopping behaviour and social media engagement of 5 million consumers globally. The latter is an area the fashion house has become adept at cultivating, thanks in large part to its courting of influential Instagram stars.

Facebook Twitter Pinterest Kendall Jenner walks the runway at the Versace show. Photograph: Daniele Venturelli/Getty Images

During the same period, searches for the brand’s Accappatoio bathrobe, which features a belt and cuffs in the brand’s signature gold baroque pattern, increased by 240% – Lyst attributes this rise to Instagram feeds showing Kanye West and Drake, among others, wearing one. On Friday, Versace acknowledged the power of the social media platform, saying there were things that were “made for Instagram”.

Of her menswear show in January, Versace said the 90s held “a specific idea of a man, but since then, fashion has evolved dramatically and today one cannot define men in just that same, clear way”. On Friday she showed how her woman has evolved, reflecting that “everything is about the feeling of how we live today”.