Stefano Gabbana is stepping down as president of the Dolce&Gabbana fashion company, which he founded with Domenico Dolce in 1985. The decision came as a surprise in December, but the news was only just reported by financial journalism outlet Bloomberg.
The role was taken over by Alfonso Dolce, Domenico's brother and the company's CEO.
The designers' last public appearance was at the women's show at Milan Fashion Week last February.
Until now, the fashion house has always remained under the direct control of the two founders, despite their personal relationship ending twenty years ago.
Gabbana's resignation as president comes at a time of economic difficulty for the brand, which, according to Bloomberg, is negotiating the management of 450 million euros in debt , a crisis exacerbated by the economic uncertainties linked to the war in the Middle East.
According to Bloomberg, Stefano Gabbana is now evaluating how to financially manage his 40% stake in the company, and a sale is even being considered.
Former Gucci CEO Stefano Cantino is also expected to play a key role in the company's team.
(Unioneonline/vl)
