MILAN — Stefano Gabbana has resigned from his position as chairman of the Italian fashion label he co-created with Domenico Dolce, although he will remain involved in a creative capacity, the company announced on Friday.

Gabbana’s departure from his supervisory roles took effect on January 1. Subsequently, Alfonso Dolce, the brother of Domenico Dolce, was appointed as chairman later that month, as recorded in the company’s filing with the Milan Chamber of Commerce.

In a statement, Dolce & Gabbana characterized this transition as “a natural evolution of its organizational structure and governance.”

This development was initially reported by Bloomberg, which indicated that Gabbana, aged 63, is contemplating potential options regarding his 40% ownership stake in the 41-year-old brand.

According to Bloomberg, Dolce & Gabbana’s lenders are set to provide up to 150 million euros as part of a larger refinancing strategy addressing the fashion house’s 450 million euros ($525.7 million) in debt. The company is also exploring the sale of real estate and the renewal of licenses to generate additional funds.

Dolce & Gabbana opted not to comment on the company’s financial obligations, citing ongoing discussions with financial institutions.

Gabbana attended the brand’s most recent runway event in February, where Madonna, a long-time muse for the designers, was a notable guest in the front row. Both he and Dolce welcomed Madonna personally at her seat following the show and accompanied her backstage.

During the filming for a sequel to “The Devil Wears Prada” last September, Meryl Streep and Stanley Tucci were spotted attending the Dolce & Gabbana runway show in character.

The brand made its debut in Milan in 1985, emphasizing Sicilian craftsmanship, which has remained a hallmark of their designs over the years. Although the designers ended their romantic relationship approximately 20 years ago, they have continued to collaborate closely on creative projects.

Dolce & Gabbana experienced a surge in popularity during the 1990s, known for its iconic cone bras, corset designs, and impeccably tailored black dresses. The duo has often incorporated elements of Dolce’s Sicilian heritage into their collections, featuring alluring sheer fabrics, vibrant floral and fruit prints, and jewelry adorned with oversized crosses.

Over time, the brand has diversified into various sectors, including fragrances, home goods, and watches, among others.

Luca Solca, a luxury sector analyst at Bernstein global equity research, expressed that he does not foresee significant changes at the fashion house as long as Gabbana remains involved in a creative role.