A significant leadership change is unfolding at one of Italy’s most iconic luxury fashion houses. Stefano Gabbana, co-founder of Dolce & Gabbana, has stepped down from his role as chairman after decades at the helm. While the decision took effect in December 2025, it has only recently come to light through Italian corporate filings. As the company approaches a crucial phase of debt restructuring, Gabbana is reportedly exploring options regarding his substantial 40 percent stake in the business.

Leadership remains within the founding circle. Alfonso Dolce, brother of co-founder Domenico Dolce and current CEO, assumed the role of chairman in January 2026. At the same time, further changes may be imminent, with industry reports suggesting that Stefano Cantino, former CEO of Gucci, could join the leadership team, although no formal confirmation has been issued.

Financial pressures are at the center of this transition. Founded in 1985 by Gabbana and Domenico Dolce, the brand is currently managing around €450 million in debt and has entered a new round of negotiations with lenders, advised by Rothschild & Co. The strategy includes refinancing €300 million through 2030 while seeking up to €150 million in fresh capital to support the continued growth of its highly profitable beauty and fragrance segment.

Despite a history marked by public controversies, Gabbana’s departure does not appear to be linked to any recent incident. Instead, it reflects a broader strategic shift as the company evaluates asset sales and licensing renewals to strengthen its financial position amid a cooling luxury market. Notably, his exit from the board has not removed him from the spotlight. Just months later, he appeared alongside Domenico Dolce at the brand’s show during Milan Fashion Week February 2026, closing the presentation with their traditional runway bow. The moment was further amplified by a surprise front-row appearance from longtime muse Madonna.

It remains uncertain whether stepping down as chairman signals a full withdrawal from daily operations or simply a move away from corporate governance. What is clear is that attention will now turn to his ownership stake and the company’s ongoing efforts to stabilize its finances.

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