Stefano Gabbana has stepped down as chair of Dolce & Gabbana, the Italian luxury label, effective Jan. 1 in early 2024 this year. The move comes as the group negotiates with lenders amid a prolonged slump in the high‑end market and heightened geopolitical risk. While Gabbana retains his creative duties, the company says the resignation will not affect design output.

The brand, founded in 1985, has long relied on the 40‑percent stakes held by co‑founders Dolce and Gabbana through a family holding company. Recent years have seen revenue pressure from the broader luxury downturn and a backlash over an all‑white menswear cast, which resurfaced in January. These challenges have prompted a restructuring of governance as the owners seek to stabilise cash flow.

Dolce & Gabbana recently extended its eyewear licence with EssilorLuxottica until 2050, underscoring a push to diversify revenue beyond apparel. Investors will watch how the governance shift influences the pending bank talks and the brand’s ability to capitalise on its broader lifestyle portfolio, which includes fragrances, cosmetics and homeware. The next reporting period will reveal whether the restructuring eases financing pressure.