Stefano Gabbana leaves the presidency of Dolce & Gabbana amid debt

Stefano Gabbana has stepped down as president of Dolce & Gabbana, while remaining fully involved in the creation of the fashion house he founded in 1985 with Domenico Dolce. Officially, the group presents this departure as a simple step in the evolution of its governance. However, this reorganization also comes as the company must reopen discussions with its banks on a major refinancing matter, giving this change a much broader significance.

A change in governance without creative disruption

In its statement, Dolce & Gabbana asserts that this resignation is part of a “natural process of organizational and governance evolution.” The company also clarifies that this departure has “no impact on the creative activities undertaken for the group by Stefano Gabbana himself.” In other words, the co-founder remains central to the brand's stylistic identity, despite stepping down as chairman.

According to an official document seen by AFP, Alfonso Dolce, the group's CEO and brother of Domenico Dolce, took over as chairman in January. Stefano Gabbana, 63, had already stepped down in December, according to Bloomberg, which first broke the story. This change does not, therefore, affect the creative working relationship of the duo, but it clearly alters the balance of power at the top of the company.

A transition that comes at a particularly sensitive time

This departure takes on a new dimension given the group's financial situation. According to Bloomberg, Stefano Gabbana is also considering several options regarding his 40% stake in the company. At the same time, Dolce & Gabbana must begin a new round of negotiations with its creditors to refinance €450 million of debt. The group has confirmed that these discussions with the banks are underway, while declining to comment further at this stage.

According to Bloomberg, lenders are reportedly seeking up to €150 million in fresh capital as part of this broader refinancing. The company is considering, among other things, selling real estate assets and renewing certain licenses to generate these funds. This development comes amid a more challenging environment for the entire Italian luxury sector, which is facing a slowdown in global demand. Despite this, the brand continues to project an untarnished image on the fashion scene: as recently as late February, Domenico Dolce and Stefano Gabbana appeared together at Milan Fashion Week, alongside Madonna, a reminder that the house's flair for the dramatic remains unchanged.