Dolce & Gabbana Beauty Tops €1bn, Targets Up to 70 Boutiques

Dolce & Gabbana Beauty grew sales 14% in 2025 and passed the €1bn threshold in wholesale sales, CEO Gianluca Toniolo told Italian newspaper Il Sole 24 Ore. Operating profit sits in the double digits. Turnover has tripled in the three years since the brand ended its licensing deal with Shiseido and took beauty in-house in 2022.

The figure anchors a rapid build-out. The business now spans make-up and skin care alongside established fragrance franchises such as Light Blue and The One.

"This result confirms the soundness of the decision made three years ago and the increasingly significant contribution of this category to the brand's overall development," said Toniolo.

What does 2026 hold?

Toniolo set a clear target: "Our goal for 2026 is to continue double-digit growth." He called 2026 "the year with the most intensive innovation plan for the internationalisation of the business", with three simultaneous workstreams:

• Strengthening the major fragrance franchises
• Expanding make-up distribution from 1,100 global points of sale to approximately 2,000 by end-2026
• Launching the first complete skin care line

For buyers and distributors, the near-doubling of make-up doors is the number to watch. It signals a wave of new retail placements and inventory commitments across 2026.

Where is the growth coming from?

Geography skews heavily West. The Americas deliver around 55% of revenues, with the US alone accounting for 60% of that region and posting what Toniolo called "significant growth". Europe contributes roughly 40%, led by Italy, Spain and Germany.

Asia supplies just 6% of revenues, but Toniolo said the region "offers significant development prospects".

The US fragrance market shows the sharpest momentum. "In 2026, the brand reached sixth place in the US fragrance market, gaining two positions, with a 28% increase compared to a market growth of 5%," Toniolo said.

The company is watching the Middle East, Australia, Mexico and Brazil, which Toniolo described as "experiencing rapid expansion". In India, Dolce & Gabbana has taken direct control of operations. Asia-Pacific, Indonesia, Thailand and Vietnam are showing "very positive signs".

The model, per Toniolo: "Our strategy combines a widespread wholesale presence, selective retail openings, and digital development."

How big will the retail network get?

The brand plans up to 70 standalone beauty boutiques globally over the next three years, focused on the Middle East, India, Brazil, Mexico and the US.

"Single-brand stores play an important role in strengthening our positioning and offering an immersive, comprehensive brand experience," Toniolo said.

The rollout has already started. Locations opened or underway: Jakarta first, then Hong Kong, London Covent Garden in the UK, Dubai Mall in the UAE, Bahrain and Kuwait.

"Our stated goal is to reach between 50 and 70 independent beauty boutiques worldwide," Toniolo confirmed.

A second channel runs in parallel: beauty areas inside Dolce & Gabbana fashion boutiques. Around 20 are operational, with another 21 planned by the end of 2027.

"This fusion allows us to present cosmetics as an integral part of the Dolce & Gabbana universe, not as a separate category," Toniolo said.

For landlords, travel-retail operators and beauty-counter partners, the pipeline is concrete: roughly 50-70 dedicated boutiques plus 21 in-store beauty areas by end-2027. The next data point to watch is the launch of the first complete skin care line, expected during 2026, which will test whether the house can convert fragrance dominance into treatment credibility.