Donatella Versace has been revealed as the winner of the ‘Fashion Icon Award' at this year's Fashion Awards.

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 honored" 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. Thank you to the industry for your support of us, thank you to my team for their loyalty and incredibly hard work, thank you to my family and friends who have supported me more than they can know and thank you to the genius that was my brother Gianni. His incredible spirit is in everything we do and everything we stand for."

In addition to continuing her brother's legacy and continuing to develop the iconic brand he founded into one of the most recognizable in the world, Versace is being celebrated for her work in "supporting, mentoring and championing many young British designers and young designers around the world." Examples include the Central Saint Martins 20:20 Fashion Fund, which was founded by the house of Versace in 2010, as well as the Gianni Versace Scholarship, and collaborations with emerging UK creatives such as Christopher Kane and Jonathan Anderson. A statement from the British Fashion Council read: "Donatella exemplifies support of young people, which has contributed to her status as an icon to the global fashion industry."

Versace isn't the only groundbreaking female designer being celebrated at the awards -- it was also recently announced that Dior's Creative Director Maria Grazia Chiuri will receive the ‘Swarovski Award for Positive Change,' in recognition of her contribution to women's empowerment in the fashion industry. 

Held annually in partnership with headline sponsor Swarovski, The Fashion Awards recognize creativity and innovation in fashion, celebrating the designers and industry figures that have broken new ground over the past 12 months while raising funds for the British Fashion Council's Education Foundation.