Dolce & Gabbana has been targeting new markets including hospitality and furniture, where its latest collection offers items such as a leopard-print porcelain vase costing £1,084.
“It’s no secret that the brand is in significant debt,” fashion expert Priya Raj told the BBC.
“The brand is privately owned, and Stefano Gabbana owns a significant stake, 40%, as does Domenico Mario Assunto Dolce – we’re not sure what will happen to that yet.”
Reports in March suggested the company had appointed a financial adviser and entered talks with creditors over its debt.
“With regard to the debt position, the group has no statement to make at this time, as negotiations with the banks are still ongoing,” the firm said in a statement on Friday.
Raj added that the firm has managed to “outlast cancel culture” after a series of controversies.
The firm’s last big controversy was earlier this year at the fall/winter men’s show during Milan Fashion Week, where it was criticised for a lack of ethnic diversity in its model casting. Celebrity Bella Hadid took to social media to condemn the brand.
But Raj said: “Even in a market obsessed with quiet luxury, their sexy Sicilian vibe has outlasted trends, and they’ve built a cult following for it.”