August's project, simply titled Versace, will centre on the fashion designer's rise to fame in the 1970s, according to Variety.com.

"It will be a biopic in the vein of Walk the Line," producer Jesper Morthorst says. "It will portray a genius fighting his own demons, and it will be uplifting and moving rather than dark and tragic.

"Versace struggled his whole life to find an inner peace and love, and he had finally found both just before he was killed."

The film is slated to begin shooting in Italy later this year (16).

Casting is currently taking place.

Versace was shot and killed outside his Miami Beach, Florida mansion in 1997.