Upheaval at Dolce & Gabbana
Co-founder of luxury brand Dolce & Gabbana, Stefano Gabbana, has left his role at the company, according to reports from Bloomberg. Milan-based business daily Il Sole 24 Ore has also reported the story.
The reports say Mr Gabbana has already left his role as president he and Domenico Dolce launched in 1985 and that Mr Dolce’s brother, Alfonso Dolce, has replaced him.
This change comes at a time when, according to the reports, the company is about to enter restructuring talks with banks. Bloomberg said Dolce & Gabbana aims to renegotiate debts of around €450 million and secure an injection of around €150 million in new funding.
The business media outlet hinted at property deals, similar to those Paris-based group Kering has negotiated in recent months, could be part of the discussions.
