According to WWD, "Roberto Cavalli has called off the sale of his namesake fashion label because of market conditions." The designer himself stated, "The timing is not ripe yet for such a step. What’s more, as I have already said a thousand times, we don’t need [to sell]." In 2007, Merrill Lynch valued the company at 1.4 billion euros, or $2.19 billion. In this market, the number was down. Cavalli again explained, "A year ago, [the banks] spoke to me about certain numbers, which today
have vanished with the stock market crisis. I’m
not selling for 800-900 million euros." The designer has also stated he won’t reconsider a sale until 2009.
We hope the decision is a beneficial one. With the decreasing profit almost across the board in the fashion and luxury markets, though, who knows?