00:01Stefano Gabbana has resigned as chairman of Dolce & Gabbana just as the brand wrestles with 450 million euros in
00:09debt.
00:10He co-founded the Italian luxury house with Domenico Dolce back in 1985, though he will maintain a creative role.
00:19Stepping into the chairman's role is Alfonso Dolce, Domenico's brother,
00:24who takes the corporate reins as the brand navigates a fresh round of debt refinancing.
00:30The company described the departure, which took effect on January 1, as a natural process of organizational and governance evolution.
00:39This resignation, the statement continues, has no impact on the creative activities carried out for the group by Stefano Gabbana
00:47himself.
00:48They added that in regard to the debt, they are still in negotiations with banks.
00:53Dolce & Gabbana built its name on Dolce's Sicilian roots and a particular genius for form-fitting glamour.
Comments