Stefano Gabbana Steps Down: Behind the Scenes at Dolce & Gabbana

Stefano Gabbana, co-founder of Dolce & Gabbana, resigned as chairman, exploring options for his 40% stake in the company amidst a refinancing process. The company seeks fresh funds to refinance €450 million of debt, considering asset disposals and license renewals. Alfonso Dolce becomes the new chair.

Stefano Gabbana, co-founder of the prestigious Italian luxury brand Dolce & Gabbana, has officially stepped down from his role as chairman. This move, effective from January, was confirmed through a company filing accessible to the public.

Reports from Bloomberg also suggest that Gabbana is evaluating prospects for his significant 40% stake in the fashion house. This development comes as the brand's lenders are in search of up to €150 million in new funds to aid in refinancing their existing €450 million debt.

The company, which Gabbana co-founded in 1985, remains creatively led by its originators, despite the latest changes in its leadership structure with Alfonso Dolce taking over the chairmanship.

(With inputs from agencies.)