AfriPulse
“Can you please spell Gabbana?” offers Anne Hathaway as Andy Sachs in The Devil Wears Prada on her first day as formidable and fictional magazine editor Miranda Priestly’s assistant. She is referring to Stefano Gabbana, who together with his former partner Domenico Dolce co-founded Dolce & Gabbana over four decades ago.
Today, reports emerged that Gabbana has resigned as chairman of Dolce & Gabbana, and is considering options for his stake in the Italian company as it enters further negotiations with its creditors.
The prolific fashion label, which is known globally for its steamy fragrance campaigns, be that starring model David Gandy or, most recently, actor Theo James, and more broadly for successfully marketing the Italian essence of the dolce vita, is reportedly €450 million (or about $522 million) in debt.
Like many of its counterparts, the brand has faced pressure from an ongoing slowdown in the luxury goods industry. Last year, per Bloomberg , Dolce & Gabbana had worked on a refinancing of around €300 million of its debt through February 2030. Part of those negotiations included receiving an additional €150 million from lenders to support its expansion in beauty, which, by remaining in a growth trajectory, has remained a silver lining for the brand.
Gabbana, 63, is said to have stepped down in December, Bloomberg reports, citing an Italian corporate filing. Alfonso Dolce, Domenico’s brother and current CEO, took over as chairman in January. Still, Gabbana was present and spoke to the press at the brand’s two consecutive fashion shows at Milan Fashion Week in January for its fall-winter 2026 menswear collection, and in February for its fall-winter 2026 ready-to-wear show. It is unclear if Gabbana’s exit as chair will lead to his exit from the brand altogether. His resignation as chair had not been reported on until today.
Dolce & Gabbana is being advised by Rothschild & Co. and is set to appoint former Gucci CEO Stefano Cantino in a top management position as reported by Puck earlier this week.
This is a developing story.
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Source: VanityFair | Read the Full Story…
