Arnault, Pinault

Dolce & Gabbana is valued at $5.3 billion, according to data compiled by Bloomberg, applying the 1.1 billion euros ($1.5 billion) revenue in 2011 as reported by the company to the average enterprise value-to-earnings before interest, tax, depreciation and amortization and price-to-earnings multiples of four publicly traded peers: London-based Burberry Group Plc, New York’s Ralph Lauren Corp., Prada and Hugo Boss. Enterprise value is defined as market capitalization plus total debt minus cash.

Dolce, who is D&G’s chairman, owns a 41.8 percent stake in the company, filings with the Italian Chamber of Commerce show, giving him a net worth of at least $2.2 billion. Gabbana, who is president, controls a 40 percent stake valued at $2.1 billion.

The remainder of the company is held by Dolce’s siblings, Alfonso and Dorotea, according to Orbis, a database of company information published by Bureau van Dijk. Paola Locati, a Dolce & Gabbana spokeswoman, said they declined to comment on the net worth estimates.

“Freedom means not having anything that forces you to do what you don’t want to do,” Dolce said in a 2005 interview with Time magazine explaining their persistent refusal to sell out to suitors including Bernard Arnault’s LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods company, and the Gucci Group, owned by Francois Pinault’s PPR SA.

Milan Nightclub

Dolce and Gabbana met in a Milan nightclub. Their designs first appeared on Milan’s fashion show catwalks in 1985. The billionaires, who were romantically involved for about 20 years, became embroiled in a court battle over charges of tax evasion in 2007.

The designers are accused by Italian prosecutors of selling their clothing brands to their wholly-owned Luxembourg-based holding company, Gado, for less than a third of their market value, each avoiding more than 416 million euros ($540 million) in taxes.

Both have denied the charges. Gabbana threatened to leave the country in a Twitter post last November. Their trial is scheduled to begin Jan. 30.

Such distractions have done little to derail their product line, which is known for edgy designs and luxury pricing, according to Pambianco. Its dresses, leather goods and perfumes are sold at 251 Dolce and Gabbana outlets and other retail stores worldwide.