Stefano Gabbana Steps Down as Dolce & Gabbana Chairman After 40 Years
Stefano Gabbana, 63, stepped down as chairman of Dolce & Gabbana in December after helping run the Italian fashion house for 40 years. Alfonso Dolce, brother of co-founder Domenico Dolce, took over as chairman in January.
Stefano Gabbana has stepped down as chairman of the luxury fashion house he co-founded four decades ago. The 63-year-old designer informed Dolce & Gabbana in December that he would resign as chairman effective January 1, according to Italian corporate filings.
Alfonso Dolce, who serves as CEO and is the brother of co-founder Domenico Dolce, was appointed as the new chairman. The company said Gabbana's resignation has "no impact whatsoever" on his creative work for the brand.
The leadership change comes as Dolce & Gabbana faces financial pressure. The bold and sensual fashion house has been struggling with debt amid a global slowdown in luxury spending that has hit many high-end brands.
Gabbana founded the company with his then-partner Domenico Dolce in the 1980s, building it into a global luxury empire known for its glamorous designs and celebrity following. Sources say Gabbana is now considering options for his roughly 40 percent stake in the Italian fashion house.
The move reflects broader challenges in the luxury fashion industry, where companies are restructuring to weather economic headwinds and changing consumer habits.
This marks a major shift at one of Italy's most famous fashion brands during tough times for luxury companies. When iconic fashion houses change leadership, it can affect everything from store jobs to the clothes you see in malls.
Watch for potential changes to Gabbana's ownership stake and how the company addresses its debt struggles.
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