Dolce&Gabbana CEO open to new investors

CEO Alfonso Dolce says ready to open their capital to third parties through a listing or other financial instruments

MILAN:

Dolce&Gabbana is ready to consider opening up its capital to new investors either through a listing or other routes, the Italian fashion house's CEO said.

"We are now ready to consider opening our capital to third parties through a listing or other financial instruments," CEO Alfonso Dolce said in an interview published on Monday in Corriere della Sera's L'Economia weekly supplement.

The financing must "not compromise the ethical value of our company, its respectful growth," said Dolce, brother of Domenico, who founded the group and runs it in partnership with Stefano Gabbana.

In May, the CEO did not rule out a possible future stock market listing, but said the move was not a priority.

Dolce&Gabbana's revenue for the 2023-2024 fiscal year, which ended in March, was up 17% to 1.871 billion euros ($2.04 billion), said Dolce, adding that he hoped to repeat this growth this year.

The fashion house will open 12 new stores in the U.S., including at 695 Madison Avenue in New York, the former Hermes location, with more than 2,000 square metres over five floors.

"The United States are vital, we already have 72 stores, plus four in Canada, together they represent 28% of our turnover, compared to 16% in China," said Dolce.