Dolce & Gabbana Contemplate Closing Business
After being found guilty for tax evasion last month, Domenico Dolce and Stefano Gabbana have revealed that they may have to close their business should they ultimately have to pay back the hundreds of millions in back taxes -- totaling around $455 million.
"We will close," said Dolce. "What do you want us to do? We will close. We will not be able to deal with it. It's impossible."
"If we deserved the sentence, there would be nothing to say," added Gabbana. "But we do not deserve it, and so unfortunately we would have to close."
In June, the duo were found guilty of failing to declare hundreds of millions in income, and handed down a suspended sentence of 20 months although they will not spend time behind bars. Italian law allows for sentences of less than three years to be served with house arrest or community service. When they pair sold their brands to a holding company called Gado, which they established in Luxuembourg in 2004, it enabled them to avoid a higher tax rate... later prompting charges against them.
Despite being found guilty, both Dolce and Gabbana say they are not the thieves they are depicted to be.
"We are not going to give in to being crucified like thieves, because we are not," said Gabbana. "How could we accept being branded tax evaders?
"We are good people, we live in Italy we pay taxes in Italy, we don't pretend to live abroad."
After being sentenced, the duo subsequently closed their Milan stores, bars and restaurants for three days in protest.