Stefano Gabbana steps down as president of Dolce&Gabbana

Stefano Gabbana has stepped down as chairman of Dolce&Gabbana, taken over by Alfonso Dolce, and is assessing the future of his 40 per cent stake, opening a crucial phase for the fashion house. This is the exclusive report of the Bloomberg agency, according to which the group, grappling with the slowdown in the luxury sector, is preparing to negotiate with banks on a restructuring of some 450 million euros of debt, with a request for new funds of up to 150 million. Also on the table, according to Bloomberg, is the possible sale of real estate assets and the renewal of licences to strengthen liquidity.