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Dolce & Gabbana Threaten to Shutter if Guilty Verdit Is Not Overturned

Could this the end of Dolce & Gabbana as we know it?

Could this the end of Dolce & Gabbana as we know it?

According to the Telegraph, designers Domenico Dolce and Stefano Gabbana are threatening to shutter their label if the guilty verdit on their tax evasion case is not overturned.

"If we deserved the sentence, there would be nothing to say," Gabbana said on Wednesday. "But we do not deserve it, and so unfortunately we would have to close."

In June, the designers were found guilty of evading more than €400 million in taxes, and sentenced to pay a $440 million fine, as well as serve 20 months in jail. The designers are currently appealing the verdict and things have been relatively business as usual--until last week, when a city official publicly branded them as tax evaders. In protest, the designers shut down all of their Milano stores out of "indignation."

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Now, it sounds like the temporary closure of their Milan stores was just a taste of things to come. “We will close," Dolce said, according to Italy's Local paper in English. "We will not be able to resist. It’s impossible."

The designers were slightly more upbeat when speaking to Bloomberg. When asked if they were angry, Gabbana said, "No. Everybody knows we're innocent."

The two also ruled out leaving Italy. "No we love Italy," Gabbana said. "We believe in Italy. We believe in justice."

However, today Page Six is reporting that Gabbana was seen looking at property in New York. According to the gossip column (so, pinch of salt), Gabbana was interested in the Mark Hotel's five-bedroom penthouse--which is on the market for $60 million. Seems like that money could probably be better spent going towards that hefty fine, but maybe that's just us.

Needless to say, the whole industry is waiting at the edge of their seats to see what Dolce and Gabbana will actually do. Stay tuned.