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Lace, Crosses and Leopard Print: Dolce & Gabbana Searches for a Way Out of Its Debt Crisis

19:19, September 28

Earlier this week, Jennifer Lopez walked the runway at Vogue World in Milan wearing a black Dolce & Gabbana bustier dress with a beaded A-line skirt. On Saturday, the 57-year-old star was back in the spotlight, this time seated in the front row at the Italian fashion house’s women’s show, dressed in a Dolce & Gabbana velvet three-piece suit and topped off with a cap reminiscent of early-20th-century British style.

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The reminder of Dolce & Gabbana’s virtually inseparable relationship with celebrities was hardly accidental. As the luxury market faces a difficult period, the Italian brand is struggling with debts approaching $530 million, according to The Guardian.

In August, the company, which has found itself at the center of various controversies over the years, reached an agreement with its banks giving it until March 2028 to repay its debts.

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In exchange for the concession, the brand will have to carry out a series of “extraordinary corporate operations.” According to media reports, these could include selling off some of the real estate owned by the company.

Dolce & Gabbana remains one of the few major fashion houses to retain its independence. Gucci and Bottega Veneta are part of French conglomerate Kering, while Fendi belongs to the LVMH empire.

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Amid mounting pressure and the need to find a path toward recovery — particularly if the company wants to retain control of its own business — Saturday’s Stravaganza Siciliana show offered Dolce & Gabbana two opportunities at once.

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The first was to remind existing fans of the brand’s heritage and its deep connection to Italian culture. The second was to demonstrate how Dolce & Gabbana sees its new Generation Z customer — an audience the house will struggle to remain relevant to without, and an important part of any effort to restore sales growth.

Behind the scenes, a voice-over told the story of women looking through their mothers’ and grandmothers’ wardrobes.

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“Today, women don’t look at these things as museum pieces. They try them on, layer them and mix them together. The grandmother dresses the granddaughter,” the narration said.

On the runway, the idea came to life in lace and knitted dresses and skirts with vintage-inspired motifs, paired with cropped tweed jackets and an abundance of jewelry.

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The image of the traditional Italian widow gave way to a more carefree ragazza — a young Italian woman. Denim received particular attention, with low-rise jeans paired with everything from tiny D&G logo T-shirts to sheer blouses featuring bows at the neckline.

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At the same time, Dolce & Gabbana’s trademark love of maximalism was nowhere near disappearing. The runway was awash with beads, embroidery and elaborate decorative details.

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One pair of jeans was completely covered in dangling crosses and religious medals. Instead of ordinary buttons, jackets were fastened with oversized sparkling stones roughly the size of euro coins.

Leopard print was everywhere, too — from crocodile-skin coats to miniskirts that the designers themselves described as pieces that “go against decency.”

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At the end of the show, Stefano Gabbana took his bow. He stepped down as chairman of the company earlier this year and appeared in a leopard-print shirt alongside his longtime design partner Domenico Dolce, who opted for an all-black look.

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According to media reports, Gabbana is considering options for the future of his stake in the company, which amounts to nearly 40 percent.


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