Designer News. Roberto Cavalli to Sell Minority Stake

January 19, 2009 • Fashion


It is no secret Roberto Cavalli has been looking for a buyer. In fact, he has been very vocal about it. The designer has confirmed he is in talks to sell between 15 and 20% of his fashion label to private equity firm Clessidra

“We are still at the beginning [of negotiations], but I
am hopeful,” Cavalli said, “I need a serious financial
partner… [Clessidra] is a well-managed Italian group. I hope they will
help grow my company.”

reported by WWD, the Italian designer announced last week he
was close to Roberto_Cavalli

signing a preliminary deal with Clessidra and that he
would like to list on the stock market in three or four years.

has frequently voiced an interest in selling a chunk of the company in
order to fund the next phase of growth internationally and to bring in
new management. Cavalli relies on the Italian market, which is
suffering, and the 68-year-old designer told WWD last year he wanted to
dedicate his time “just to designing” because he had “too many things
to do.”

Industry sources said Cavalli had likely “dramatically
reduced” his asking price to be near to reaching a deal. Based on his
valuation last year, a 20% stake would be worth around 280
million euros, or $370 million, which sources said was “very demanding”
given the economic climate.

Source: WWD

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