Italy’s Dolce & Gabbana eyes stock market listing

(FILES) The logo of Italian luxury fashion house Dolce & Gabbana adorns a shop in Venice, north-eastern Italy on February 16, 2019. Italian luxury group Dolce & Gabbana is considering bringing in outside shareholders and could seek a stock market listing, its chief executive Alfonso Dolce said July 22, 2024. (Photo by Vincenzo PINTO / AFP)

Milan, Italy — Italian luxury group Dolce & Gabbana is considering bringing in outside shareholders and could seek a stock market listing, its chief executive Alfonso Dolce said Monday.

“We are now ready to consider opening our capital to third parties through a quotation or via other financial instruments,” he said in an interview with daily Corriere della Sera.

However, such an opening should be done without “compromising the ethical value of our company, its respectful growth,” said Alfonso, brother of Domenico Dolce, co-founder of the brand along with Stefano Gabbana.

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The closely held family company presented its collections for the first time in Milan some 40 years ago.

Sales in its fiscal year ending March rose 17 percent to 1.9 billion euros ($2.1 billion), and the chief executive said he expects a similar rate of growth this year.

In the following 18 months, the Italian brand plans to open 12 new stores in the United States, where it already has 72.

North America is “vital” for D & G because it represents 28 percent of revenue, compared with 16 percent for China, Dolce said.