Stefano Gabbana Has Stepped Down as Dolce & Gabbana Chairman, Filing Shows

Stefano Gabbana has resigned as Dolce & Gabbana chair, filing shows

Stefano Gabbana's Resignation and Dolce & Gabbana's Financial Situation

Background of the Resignation

MILAN, April 10 (Reuters) - Stefano Gabbana, co-founder of Italian luxury fashion house Dolce & Gabbana, stepped down as chair in January, according to a company filing with the local chamber of commerce seen by Reuters on Friday.

Implications for Company Ownership

The news was first reported by Bloomberg, which said the designer was also considering options for his roughly 40% stake in the company ahead of negotiations with its bank lenders.

Refinancing and Financial Strategies

Dolce & Gabbana’s lenders are seeking an injection of up to 150 million euros in fresh funds as part of a broader refinancing of 450 million euros ($525.7 million) of debt, Bloomberg reported, citing sources. It added that the company was considering the disposal of real estate and the renewal of licences to raise money.

Company Response

Dolce & Gabbana was not immediately available for comment.

Company History and Leadership Changes

Domenico Dolce and Stefano Gabbana founded the company in 1985 and they are still in charge of creative direction.

According to the filing, Gabbana, 63, informed the company in December that he intended to step down as chair effective January 1. Chief Executive Alfonso Dolce, the brother of co‑founder Domenico Dolce, was appointed as the new chair. 

Future Prospects

In the past the company did not rule out the possibility of a minority investor or stock market listing.

Exchange Rate Information

($1 = 0.8559 euros)

Reporting Credits

(Reporting by Elisa Anzolin; Editing by Alvise Armellini and Emelia Sithole-Matarise)