Domenico Dolce Net Worth

What is Domenico Dolce's Net Worth?

Domenico Dolce is an Italian fashion designer who has a net worth of $1.5 billion. Domenico Dolce earned fortune and fame as the co-founder of the luxury fashion house Dolce & Gabbana. He co-founded the company with Stefano Gabbana. Domenico and Stefano were also in a romantic relationship from 1982 to 2003.

Early Life

Dolce was born on August 13, 1958, in Polizzi Generosa, Sicily, Italy. His father worked as a tailor while his mother sold fabrics and apparel. In his late teens, he moved to Milan to attend the fashion design school Istituto Marangoni. However, he dropped out before finishing the program, as he was confident he had already learned enough to work in the fashion industry. At the time, he dreamed of working for the fashion house Armani.

Career

In 1980, Dolce met Stefano Gabbana through Dolce's employer, Giorgio Correggiari. They both continued to work for him. However, in 1983, Gabbana and Dolce left Correggiari to work on their own. In 1985, they launched Dolce & Gabbana S.p.A.

The same year, in October, D&G organized their first fashion show at Milano Collezioni's Nuovi Talenti. In March of 1986, D&G released its first collection and held its own show, "Real Women." In 1987, the duo opened their first store in Milan, and the brand grew in popularity. In 1988, D&G established a partnership with Dolce's father, Saverio, who owned the manufacturing company Dolce Saverio in Legnano, close to Milan.

Throughout the end of the 1980s, D&G continued expanding its brand. They held their first fashion show in Tokyo in April of 1989 and then organized a show in New York City in April of 1990. They also continued releasing new collection lines, releasing their first lingerie and beachwear line in July of 1989. They also expanded into menswear, releasing their first menswear collection in January of 1990. In November of 1990, D&G opened its New York City showroom in SoHo, Manhattan. By 1992, they had released their first fragrance, Dolce & Gabbana Parfum.

The following year, 1993, was a massive year for the brand. Dolce & Gabbana received worldwide fame when Madonna chose D&G to design costumes for her Girlie Show World Tour. Being one of the most popular artists at the time, Madonna's choice elevated the brand to global recognition. In the years following, D&G has designed for Monica Bellucci, Kylie Minogue, Angelina Jolie, and Isabella Rossellini.

Throughout the rest of the 1990s and into the 2000s, the brand continued expanding. They expanded their product line with belt, tie, handbag, watch, shoe, and sunglasses collections. They additionally continued making luxury women's and menswear. By 2003, the company sold more products in Italy than other luxury brands like Armani, Gucci, Prada, and Versace.

The brand focused on opening more boutiques throughout the 2000s. By 2009, almost 25 after the launch of the brand, the company had over 100 stores and 20 factory outlets and a staff of over almost 4,000 people.

Dolce has remained one of the most successful Italian designers of all time through D&G. In 2009, the city of Milan awarded both Dolce and Gabbana awarded them the Ambrogino Gold Medal. In 2014, the La Fondazione NY, an American charity aimed at supporting young Italian and American artists, honored the two at its third awards gala at the Museum of the Moving Image in New York City.

Tax Evasion Conviction and Controversies

However, success did not come without some controversies. Both Dolce and Gabbana were convicted of tax evasion in 2013. They were sentenced to a 20-month suspended sentence in prison. A court in Italy found them both guilty of failing to declare millions of euros of revenue earned through a subsidiary company of D&G called Gado. However, they both denied all charges and appealed. An appellate court cleared them of wrongdoing in October 2014.

In 2018, Dolce and Gabbana issued an apology video after D&G published promotional videos of their upcoming fashion show in China. Viewers accused the videos of being racist. Further, messages between Dolce and Gabbana were hacked and released, revealing messages that were insulting towards Chinese people.

Personal Life

In addition to their professional relationship, Dolce also began a romantic relationship with Gabbana. The couple were in a relationship for many years, officially coming out as an item in 1999. After their brand became very successful, they purchased a 19^th century villa in Milan together and also owned several properties on the French Riviera. They ended their romantic relationship in 2003 but continued working together at D&G. Since then, they have lived in separate apartments in the same building in Milan, nearby where they work. They have also begun dating other people and sometimes go on double dates together.

In March of 2015, Dolce was at the center of a controversy after he made some remarks about his disapproval of in vitro fertilization (IVF). He gave a magazine interview in which he described children born via IVF as "synthetic." His remarks were not well-received, especially by British singer-songwriter, Elton John, who had children via IVF with his husband David Furnish. John called for a boycott of the D&G brand, which sparked a war of words between the two. Dolce called John a fascist and called for a counter-boycott of John himself. Dolce later issued an apology.