Stefano Gabbana Steps Down: A New Era for Dolce & Gabbana

Stefano Gabbana, co-founder of Dolce & Gabbana, stepped down as chair of the Italian fashion house and its holding company, effective January 1. Despite his resignation, Gabbana remains active in the group's creative operations. Chief Executive Alfonso Dolce takes over as chair amid ongoing debt negotiations with lenders.

In a significant leadership change, Stefano Gabbana, co-founder of the iconic Italian fashion house Dolce & Gabbana, has stepped down from his roles as chair of both the company and its controlling holding entity.

The announcement, made on Friday, confirmed previous reports of his resignation, effective from January 1. Despite this move, the company emphasized that Gabbana would continue his involvement in the brand's creative activities.

This transition comes as Dolce & Gabbana navigates complex financial negotiations. According to Bloomberg, the company is advised by Rothschild in securing fresh funds, exploring options like asset disposals and license renewals, amid talks with banks to refinance 450 million euros in debt.

(With inputs from agencies.)