Dolce & Gabbana chair resigns

Gabbana will remain in a creative role, while the chief executive position has been taken over by Alfonso Dolce, the brother of co-founder Domenico.

The leadership change comes amid a global slowdown in luxury spending that has hit major Italian design houses particularly hard.

Stefano Gabbana is also reportedly considering options for his 40% stake in the company ahead of critical negotiations with bank lenders.

The brand continues to be a major force in global fashion, though its future direction remains a point of intense speculation in the industry.