Dolce & Gabbana chief exits chair amid €450m debt restructuring

Dolce & Gabbana co-founder Stefano Gabbana steps down as chair amid a debt pile of about €450m and a downturn in luxury retail, while remaining involved creatively; Alfonso Dolce has taken over the chair role as the company negotiates with banks and explores outside help. The privately owned brand, with Gabbana and Domenico Dolce each holding significant stakes, is pushing into new markets like hospitality and furniture and is considering a minority investment or strategic partnership to stabilise the business.