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Roberto Cavalli Company Bought by Clessidra

Roberto Cavalli Clessidra

Image: Getty

For months we’ve been hearing about a potential sale of the Roberto Cavalli brand and now it looks like the Italian fashion house has found a buyer. WWD reports that Clessidra SGR will purchase 90 percent of the company, while Cavalli himself will keep the remaining 10 percent stake.

“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 said in a statement. “Clessidra will provide financial, managerial and human resources that will allow the company to grow further and face the challenges of the ever-evolving luxury market.”

The house has also named a new CEO, Renato Semerari, and Francesco Trapani will enter into a chairman role. Between this and Peter Dundas’ return to the label, it looks as if the house of Cavalli is entering a new era. Clessidra’s investments include Camfin, which has holdings in Pirelli, fine jewelry brand Buccellati, casualwear brand Harmont & Blaine and more.

[via Reuters, WWD]