Dolce & Gabbana Become Billionaires

January 16, 2013 • Designers, Fashion Blog, Industry

Dolce and Gabbana

Money has been both very good and very bad to “Italy’s bad boys of fashion.” Despite their battle against allegations of tax evasion, Domenico Dolce and Stefano Gabbana have just skyrocketed to billionaire status.

Although the two maintain their innocence, if convicted of evading over $500 million in taxes, they could face up to five years in jail as well as a large fine. But there is always a silver lining of sorts to every bad situation.

Dolce & Gabbana’s parent company was reported to have revenues of just below $1.5 billion in 2011. With each half of the Dolce & Gabbana duo owning 50 percent of the private company, each of those well-dressed men would be worth over $ 1 billion. Certainly $ 1 billion is enough to hire a fantastic team of lawyers, right?

The design partners are said to join the ranks of designer, Tory Burch and the founder of Diesel, Renzo Rosso, on Forbes’ next World’s Billionaires List. This list of the enviably wealthy is set to come out in March.

For the complete article on the fortunes and misfortunes of this stylish pair read it at Forbes.

– Jamie Wilson

Source and Image: Forbes





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