LARGEST Italian fashion designer has refused all acquisition calls it has received and its initiators have already established different firm for the future of the Brand, Reuters reports.
According to Domenico Dolce, who is one of the owner of Dolce & Gabanna, they have rejected all offers to buy (the company).
One can have a lot of money but if you are not free, what do you do with it?,” Dolce said in an interview with fashion’s most famous duo in Italian daily Corriere della Sera.
He did not give any details of offers from buyers the company had received.
The unlisted group is one of the ten largest fashion groups in Italy by revenues and had sales of 1.3 billion euros in the year ending in March 2017. The brand is popular among celebrities for its bold and opulent designs.
Asked who would inherit the group’s “fortune” Stefano Gabbana said: “Once we will be dead, we will be dead.”
“I don’t want a Japanese designer to design for Dolce & Gabbana,” he added, without elaborating.
The two designers, who remained business partners after their romantic relationship ended, said they had divided everything up and created a trust for the company which neither of the two can touch.