Italian luxury house Dolce & Gabbana appoints former Gucci chief Stefano Cantino as co-CEO alongside Alfonso Dolce, as it moves to restructure operations and tackle debt amid a sector slowdown.
Italian luxury group Dolce & Gabbana appoints Stefano Cantino, a former Gucci chief, as co-chief executive officer, marking a leadership reshuffle as the company looks to address mounting debt pressures, AFP reported.
Cantino will share the top role with Alfonso Dolce, brother of co-founder Domenico Dolce, the company said in a statement. It added that the appointment is aligned with “the evolution of its organisational model from a fashion brand to a lifestyle company”.
Alfonso Dolce, who also took over as chairman in January, stepped into the role after co-founder Stefano Gabbana exited his executive position while continuing to lead the brand’s creative direction.
Leadership Transition
According to Bloomberg, Gabbana, 63, stepped down in December last year. The company said on April 10 that the move was “part of a natural evolution of its organizational structure and governance,” and emphasised that it would “have no impact” on his creative responsibilities.
Dolce & Gabbana, a privately held company, has been grappling with a prolonged slowdown in the global luxury market, further aggravated by uncertainty linked to the conflict in Iran. The downturn has weighed on earnings and made debt servicing more challenging.
Bloomberg reported that Gabbana is exploring options for his roughly 40 per cent stake as the company prepares for fresh negotiations with lenders. Creditors are seeking up to €150 million (USD 175.3 million) in new capital as part of a broader refinancing exercise covering €450 million in debt. To support this, the company is considering measures such as selling real estate assets and renewing licensing agreements.
Founded in the mid-1980s, Dolce & Gabbana rose to global prominence with its Mediterranean-inspired designs. Although Domenico Dolce and Gabbana ended their personal relationship more than two decades ago, they remain business partners and jointly control about 80 per cent of the company through a holding entity. The remaining stake is held by members of the Dolce family.
Profile: Stefano Cantino
As per his LinkedIn profile, Cantino brings decades of experience in luxury branding, communications and retail strategy. He graduated in Political Science from Università degli Studi di Torino.
He spent over 20 years at Prada, holding senior roles across marketing, communications and business development. He later joined Louis Vuitton in Paris as Senior Vice President of Communication and Events.
In 2024, Cantino moved to Gucci as deputy CEO and was promoted to chief executive in January last year.
(With input from agency)
