Roberto Cavalli sells 90% of his company
Italian equity firm Clessidra buys Roberto Cavalli
After talks with a number of potential investors over several years, Roberto Cavalli has at last closed a deal to sell the majority of his business to Clessidra. The Italian equity firm now owns 90 per cent of the brand, with the remaining 10 per cent staying with the 74-year-old Italian designer.
"I am extremely satisfied to have signed this agreement with an Italian partner which, I am sure, will further develop what I have built in a lifetime," Cavalli told WWD.
And even though the brand's founder may have taken a step back, the label Roberto Cavalli seems ready to face the ever-evolving luxury market, having recently appointed Peter Dundas as its creative director and Renato Semerari as its new CEO.
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