Dolce & Gabbana Appoints Stefano Cantino as Co-CEO Amid Leadership Shake-Up

Dolce & Gabbana Appoints Stefano Cantino as Co-CEO Amid Management Shake-Up

Italian fashion house Dolce & Gabbana has announced the appointment of Stefano Cantino, the former Gucci boss, as its co-chief executive, as part of its management shake-up aimed at refinancing debt. Cantino will serve alongside Alfonso Dolce, the brother of D&G co-founder and designer Domenico Dolce.

The company's statement noted that Cantino's appointment was driven by the evolution of its organisational model from a fashion brand to a lifestyle company. Alfonso Dolce has also been the chairman of the company since January this year, after the co-founder and designer Stefano Gabbana resigned from his post, but retains his creative duties.

Gabbana Steps Down Amid Luxury Sector Downturn

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Stefano Gabbana, 63, stepped down in December last year, with the company citing a natural evolution of its organisational structure and governance. The changes were made in response to a prolonged downturn in the luxury sector, recently worsened by uncertainty linked to the war in Iran. These challenges have hurt earnings and made it more difficult to comply with debt obligations.

The closely held company has been under pressure to address its financial situation, with lenders seeking up to €150 million ($175.3 million) in fresh capital as part of a broader refinancing plan covering €450 million in debt. To raise the funds, the company is considering selling real estate assets and renewing licences.

Company Overview

Dolce & Gabbana was founded in the mid-1980s and quickly became one of the world's most recognisable fashion brands, known for its Mediterranean-inspired style. Although Gabbana and Domenico Dolce separated more than 20 years ago, they have remained business partners and jointly control 80% of the company through a holding entity. The remaining shares are held separately by Domenico, Alfonso, and their sister Dorotea.

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Stefano Cantino's Background

Stefano Cantino is an experienced Director of External Relations with a demonstrated history of working in the apparel and fashion industry. He graduated from Università degli Studi di Torino in 1987 with a Bachelor's degree in Political Science, with a specialisation in Political and Social Studies. Cantino worked at Prada in different capacities for over 20 years, including as its marketing director between 1998 and 2009, and later as the Group Communication and External Relations Director from 2009 to 2014.