Stefano Gabbana, co-founder of luxury fashion house Dolce & Gabbana, has stepped down from his role as chairman of the company, marking a significant leadership shift within the iconic Italian brand.
The company confirmed on Friday that Gabbana exited his corporate position on January 1, describing the move as part of a “natural process of organisational and governance evolution.”
Following his departure, Chief Executive Alfonso Dolce has assumed the role of chairman. Alfonso is the brother of Domenico Dolce, Gabbana’s longtime business and creative partner.
Despite stepping down from the board, Gabbana will remain actively involved in the brand’s creative direction, maintaining influence over its design identity and global image.
The development comes amid reports that the fashion house is in discussions with banks to refinance approximately €450 million in debt. While the company acknowledged ongoing negotiations, it declined to provide further details.
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Gabbana, who co-founded the brand with Domenico Dolce in 1985, is also said to be reviewing options regarding his 40 per cent ownership stake in the company.
In recent years, global luxury brands have faced mounting financial pressure due to a slowdown in demand. However, Dolce & Gabbana continues to hold a strong position in the fashion industry, known for its distinctive Italian style and designs inspired by Sicilian culture.
The brand remains a favourite among global celebrities, with appearances at major events such as Milan Fashion Week, where both founders recently took to the runway alongside pop icon Madonna.