Dolce & Gabbana is not ready for an initial public offering but is prepared to consider it in the future, the Italian luxury group’s chief executive said on Monday.

“We are open to looking at (a listing) but before that we want to consolidate our business,” CEO Alfonso Dolce said, answering a question at the Milano Fashion Global Summit 2024.

“We have the social responsibility of so many families,” he added, referring to the group’s employees, and of those working in companies that supply it.

In July, Dolce had said the fashion company was ready to assess opening up its capital to new investors either through a listing or other routes, in an interview published in Corriere della Sera’s L’Economia weekly supplement.

Domenico Dolce and Stefano Gabbana founded the company in 1985 and they are still in charge of creative direction.

They have no direct heirs. Alfonso and Domenico Dolce are brothers.