Stefano Gabbana steps down as chairman of Dolce & Gabbana

A farewell to the creative duo Dolce & Gabbana. Stefano Gabbana has stepped down as chairman of Dolce & Gabbana. Alfonso Dolce has taken over the role. Gabbana is now considering the future of his 40 percent stake, marking a crucial phase for the fashion house.

Gabbana, 63, founded the fashion house with then-partner Domenico Dolce

This was reported exclusively by Bloomberg. According to the agency, the company is grappling with a slowdown in the luxury market. It is preparing to negotiate a debt restructuring of approximately 450 million euros with banks, and is requesting new funds of up to 150 million euros.

Also on the table, according to Bloomberg, is the possible sale of real estate assets and the renewal of licenses to strengthen liquidity.

Gabbana, 63, who founded the label with his then-partner Domenico Dolce, resigned in December. His resignation had not been previously disclosed. Alfonso Dolce, Domenico's brother and current CEO, took over as chairman in January.

Furthermore, according to rumours that have emerged in recent days, the company is reportedly ready to appoint former Gucci CEO, Stefano Cantino, to a senior role.