Fashion News

CAVALLI CONFIRMS TALKS

Rumors have been brewing for some time now that Roberto Cavalli has been planning to sell a stake of his fashion empire. Though things have been kept fairly hush hush it has recently been confirmed that the Italian designer is indeed in talks to sell between 15 and 20 percent of his namesake fashion label to private equity firm Clessidra SGR SpA.

Though they are still in the negotiation phases, Cavalli has told reporters that he is hopeful. The designer is said to be in need of a serious financial partner in order to grow his company especially when it comes to international growth.

Both involved parties have reportedly been speaking to one another exclusively for awhile now and Cavalli has been quoted in a local business daily as saying that he is close to signing a preliminary deal with Clessidra and that he would like to list his brand on the stock market in the next three to four years.

The rumored price tag — based on the valuation of Roberto Cavalli’s brand last year —  is that a 20 percent stake in the company would be worth approximately $370 million.
 

Images courtesy of the Fashion Spot forums.