Dolce & Gabbana CEO Alfonso Dolce confirmed that the fashion house is open to seeking new investors as a means of raising capital. This comes as the company looks to open 12 new stores in the U.S., including at 695 Madison Avenue in New York, the former home of the five-store Hermes store.
“We are now ready to consider opening our capital to third parties through a listing or other financial instruments,” Dolce explained, hinting at the possibility of stock listings. He added that growing the company’s U.S. base is crucial, given that Dolce&Gabbana’s 72 American stores rake in about 28% of its takeover, compared to 16% from its Chinese operations.
The fashion house’s CEO confirmed that his company’s financial trajectory remains positive following the confirmation of its 2023-2024 financial results. Dolce&Gabbana generated 1.871 billion euros, or $2.04 billion, for the period – a 17% rise from the previous year. Dolce added that he hopes for the company to continue on this growth trajectory going forward.
Dolce’s comments come after he revealed in May that the company would explore a possible future stock market listing, however, this move would not be guaranteed. Either way, it appears that tapping into the U.S. market is critical for the company’s future growth potential.