India, April 11 -- Stefano Gabbana, co-founder of luxury fashion house Dolce & Gabbana, has stepped down as chairman after 40 years, with filings revealing that he resigned in December. The move had not been publicly disclosed earlier. Notably, Gabanna has earlier been in the spotlight over allegations of racism, cultural insensitivity, and abrasive social media behaviour. Gabbana, 63, co-founded the brand with Domenico Dolce, building it into one of Italy's most recognisable luxury labels. The new leadership shift comes as Domenico's brother, Alfonso Dolce, continues as CEO. Reports also indicate that former Gucci CEO Stefano Cantino may be brought in for a senior leadership role. The development coincides with a broader slowdown in the global luxury market. As per Bloomberg, the company is preparing to renegotiate debt worth around €450 million (over Rs.4,870 crore) and is seeking additional funding of up to €150 million (over Rs.1,600 crore). htc...