A mole tells the mag, "Donatella [Versace] personally invited Gerard to Milan to her June 21 runway show...she's the only woman in the world trying to get him to put on clothes, not take them off."

Word is, the company feels that freewheeling ladies' man Butler—who's made time with Cameron Diaz and Dancing with the Stars' Cheryl Burke—would present a more exciting image for the brand than married father-of-two Dempsey.

Of course, it's a bit ironic that Butler, who's primarily known for prancing around in little more than a loincloth, would be chosen to model clothes.

If Dempsey thinks he has pec envy now, just imagine how he'll feel if he's replaced by this two-fisted sword-swinger.