February 14, 2020 / 6:57 AM / 5 days ago

Dolce & Gabbana founders have received offers but have no plans to sell: paper

FILE PHOTO: Italian designers Domenico Dolce (R) and Stefano Gabbana acknowledge the applause at the end of the D&G fashion show during Milan Fashion Week Spring/Summer 2017 in Milan, Italy September 25, 2016. REUTERS/Max Rossi/File Photo

MILAN (Reuters) - Italy’s Dolce & Gabbana founder Stefano Gabbana said on Friday he had received proposals to buy the group but had no intention to sell.

The unlisted group is one of the ten largest fashion groups in Italy by revenues and had sales of 1.38 billion euros in the year ended March 2019, according to a filing to Italy’s Chamber of Commerce seen by Reuters.

“We carried out the negotiations since we wanted to understand how our work was valued both economically and ethically,” Gabbana, who founded the fashion house together with Domenico Dolce, told Italian newspaper Il Messaggero.

“But we have no intention to sell”.

Reporting by Gianluca Semeraro, editing by Stephen Jewkes

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