Approval from the banks to confirm EUR 450 million in loans resolves two issues for Dolce & Gabbana. First of all, the Sicilian-Milanese company can keep under control a debt level which, only a few weeks ago, had suggested the possibility of highly significant financial sacrifices. Secondly, it enables the company to launch an industrial programme which, inevitably, still includes some sacrifices, but is not focused solely on them. As reported by la Repubblica, with the 30 June agreement on its financial statements, Dolce & Gabbana can now aim “to relaunch revenues and profits”.
Banks’ approval
“For certain technical reasons, the financing agreement has not yet been signed”,
the newspaper specified, “although there is confidence that signing will take place
in the coming days”. A pool of four banks, together with Cassa Depositi e Prestiti and SACE, has confirmed the existing credit facilities “both in terms of interest rates and duration, while granting a waiver on certain covenants (guarantee parameters) that
had not been met”. On this basis, Dolce & Gabbana was able to approve its proposed 2025 financial statements.
Sacrifices, but not too many
As a result, the financial year closes with revenues in line with the EUR 1.87 billion recorded in 2024 and an operating loss reduced compared with 2023. It therefore becomes clear why the company’s industrial strategic plan includes cost reductions,
though not workforce cuts. Nothing as drastic
as the reports published by Bloomberg in mid-June had suggested, such as selling part of its property portfolio through a sale-and-leaseback operation. Co-CEO
Stefano Cantino can now focus on growth, developing, among other areas, “the categories with the greatest potential, such as handbags and footwear, as well as menswear collections and bespoke tailoring”.
Photo from social media: collaboration with Diadora
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