New Delhi, April 13 -- Italian fashion house Dolce & Gabbana on Monday (local time) announced that it has appointed Stefano Cantino, the former Gucci boss, as its co-chief executive, as part of its management shake-up aimed at refinancing debt, AFP reported.

The company, in a statement, said that Cantino will serve as co-CEO with Alfonso Dolce, the brother of D&G co-founder and designer Domenico Dolce. Cantino, a fashion veteran, has most recently served as chief executive officer of D&G's rival brand, Gucci.

The company noted that Cantino's appointment was driven by "the evolution of its organisational model from a fashion brand to a lifestyle company".

Alfonso Dolce has also been the chairman of the company since January this year, a...