"Stefano Gabbana tendered his resignation as chair of Dolce & Gabbana, effective as of 1 January, as part of a natural evolution of its organisational structure and governance."
"The Italian label has been hit by a slump in the high-end fashion market, heightened by uncertainty over the war in Iran, a key market for luxury brands."
"At the time, it had 450m (391m) of bank debt after a round of refinancing in 2025 to implement a new growth strategy aimed at keeping D&G independent."
"The fashion designers, who separated romantically in 2004, each hold a 40% stake in the business through a holding unit."
Stefano Gabbana resigned from his position as chair of Dolce & Gabbana, effective January 1. The company stated this change is part of a natural evolution in its governance. Alfonso Dolce has taken over as chief executive. Gabbana is considering options for his 40% stake in the company amid ongoing negotiations with bank lenders. The brand faces financial difficulties, including significant bank debt and a slump in the high-end fashion market, exacerbated by geopolitical uncertainties. Rothschild & Co has been appointed as a financial adviser for creditor discussions.
Read at www.theguardian.com
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