The designer, who left the fashion house in January, is reportedly considering options for a 40% stake ahead of talks with lenders.
Stefano Gabbana resigned as chairman of Dolce & Gabbana earlier this year, the fashion house he founded with his then-partner Domenico Dolce said.
The Italian luxury brand said Gabbana submitted his resignation, effective January 1, "as part of a natural evolution of its organizational structure and management."
It added: "These resignations have no impact on the creative activities carried out by Stefano Gabbana on behalf of the group."
Alfonso Dolce, Domenico's brother and CEO of D&G, took over the role in January, according to Bloomberg, which first reported Gabbana's resignation.
Gabbana is also said to be considering options for his 40% stake in the company ahead of negotiations with its bank lenders, with former Gucci CEO Stefano Cantino set to take a senior management role as part of the reorganization.
A D&G spokesman said: "Regarding the debt position, the group has no statement to make at this time, as negotiations with the banks are still ongoing."
The Italian brand, founded in 1985, has been hit by a slump in the high-end fashion market, compounded by uncertainty over the Iran war. The Middle East is a key market for luxury brands.
In March, it was reported that the company had appointed Rothschild & Co as its financial adviser as it prepared to hold talks with creditors. At the time, it had €450m (£391m) in bank debt following a refinancing round due in 2025 to implement a new growth strategy aimed at keeping D&G independent. At the time, lenders granted a temporary waiver of the terms of the loan.
The fashion designers each hold a 40% stake in the business through a holding company. The rest is held separately by Domenico's brother, Alfonso, and their sister, Dorotea.
Gabbana, 63, was born in Milan and, after studying graphic design, met Dolce while working for designer Giorgio Correggiari.
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| Madonna, who launched the brand in 1993, with Stefano Gabbana (center) and Domenico Dolce during Milan Fashion Week in February. Photo: Alessandro Garofalo/Reuters |
Gabbana, 63, was born in Milan and, after studying graphic design, met Dolce while working for designer Giorgio Correggiari.
They became a couple and quickly found success with their brand, which relies heavily on a "molto s**y" Italian aesthetic complete with macho men, Sicilian mistresses and a heavy dose of la dolce vita. The runway shows have featured a tiger cub, soccer players and imitations of Catholic iconography.
Madonna brought the brand to the limelight in 1993 when she commissioned Dolce & Gabbana to design the costumes for her Girlie tour. Gabbana and Dolce, who romantically split in 2004, were prolific and quickly expanded their initial womenswear offerings to include menswear, lingerie, sunglasses, watches, perfume and make-up. By 2009, the brand reported sales of €1 billion.
However, the Italian fashion house has been embroiled in several controversies over the past 15 years, including accusations of racism and homophobia.
In 2012, he was accused of romanticizing slavery after he showed off earrings with what appeared to be images of Blackamoor. The following year, images circulated of Gabbana at a Disco Africa-themed Halloween party, with some of the guests appearing with boycott-themed face paint.
In 2015, there were calls for a boycott after Dolce referred to children conceived through IVF as "synthetic babies" and said he opposed the rights of gay parents to adopt. He later apologized for his comments.
In 2018, the company faced backlash for ads on social media that featured images of a Chinese model trying to eat pasta and cannoli with chopsticks. In response, Gabbana reportedly sent a direct message on Instagram to a user who criticized the ad, referring to China as an "ignorant and smelling mafia."
The brand responded that their Instagram account, and Gabbana's, had been hacked, and the pair later released a video apology. However, the row led to the brand being removed from most Chinese e-commerce sites and the cancellation of a show in Shanghai, costing the company a third of its business.
D&G's menswear show was recently criticized for featuring an all-white group of models.
The business partners remained united during D&G's womenswear show in Milan in February, which was attended by celebrities including Madonna.
After the show with the Guardian, the pair said they were not interested in following trends. Instead, they aimed to create "instantly recognizable" clothes that "when you see [them]... you think, 'Oh, it's Dolce & Gabbana', without reading the label."
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