Dolce & Gabbana's Operating Loss Widens to 13 Mln Euros in 2023-24

The logo of fashion house Dolce & Gabbana is seen outside a shop in Milan, Italy, April 8, 2024. (Reuters)
The logo of fashion house Dolce & Gabbana is seen outside a shop in Milan, Italy, April 8, 2024. (Reuters)
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Dolce & Gabbana's Operating Loss Widens to 13 Mln Euros in 2023-24

The logo of fashion house Dolce & Gabbana is seen outside a shop in Milan, Italy, April 8, 2024. (Reuters)
The logo of fashion house Dolce & Gabbana is seen outside a shop in Milan, Italy, April 8, 2024. (Reuters)

Dolce & Gabbana Holding posted a wider operating loss of 13 million euros ($14.4 million) in the fiscal year through March after stepping up investments in its shop network and its beauty division which it brought in house, a filing showed.

The operating loss was 1 million euros in the previous fiscal year, according to documents filed with the Italian Chamber of Commerce.

While requiring higher investments, the decision to internalize the cosmetics business, which Dolce & Gabbana took in 2022, boosted revenues, the document showed.

The holding, which controls the Italian fashion house founded by the designer duo Stefano Gabbana and Domenico Dolce, posted a 17% increase in revenues to 1.87 billion euros in the 12 months to March 31.

Sales in Europe, which represent 50% of the fashion and home division's sales, grew 6% year-on-year. Sales in the other main geographic areas declined, with the US market in particular down 13%.

Demand for luxury goods has been cooling globally after an exceptionally strong post-pandemic rebound, posing a major challenge to some brands as performances across the sector vary significantly.

Reuters reported in July that Dolce & Gabbana was likely to seek a minority investor in the near term, after CEO Alfonso Dolce told an Italian newspaper earlier that month that the fashion house could either do that or consider a stock market listing.



Zara Owner Inditex Launches Fund to Finance Textile Innovation

A woman carries a bag from Spanish multinational retail clothing chain Zara, the flagship brand of the Inditex clothing company, in the Gran Via of Bilbao, Spain, March 12, 2024. (Reuters)
A woman carries a bag from Spanish multinational retail clothing chain Zara, the flagship brand of the Inditex clothing company, in the Gran Via of Bilbao, Spain, March 12, 2024. (Reuters)
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Zara Owner Inditex Launches Fund to Finance Textile Innovation

A woman carries a bag from Spanish multinational retail clothing chain Zara, the flagship brand of the Inditex clothing company, in the Gran Via of Bilbao, Spain, March 12, 2024. (Reuters)
A woman carries a bag from Spanish multinational retail clothing chain Zara, the flagship brand of the Inditex clothing company, in the Gran Via of Bilbao, Spain, March 12, 2024. (Reuters)

Zara owner Inditex has launched a fund to invest around 50 million euros ($54.75 million) in innovation projects, mainly in the textile sector.
Spanish website El Confidencial on Friday reported Inditex's decision to invest in a new fund, which the company confirmed to Reuters.
The new fund, to be managed by the firm Mundi Ventures, aims to support the fashion giant's strategy of backing new start-ups to find new materials or technologies that have a lower impact on the environment.
Inditex, which has pledged to halve emissions in its entire supply chain by 2030, has invested in US firms such as Circ, which focuses on textile-to-textile recycling, and more recently in Galy, a US start-up developing a process to produce cotton in laboratories from plant cells.
Inditex has committed to making 25% of its garments from new fibers that do not yet exist on an industrial scale, and is investing heavily in their development.