Clessidra SGR has purchased the brand Roberto Cavalli. Clessidra SGR now owns 90% of the brand. Roberto Cavalli himself had been looking for an investor for the brand since 2009, when talks with Clessidra had first begun. At the time, Clessidra had offered to buy a 30% share of the company, but plans were not made after a rumoured disagreement about price. These talks are said to have begun once more in 2014, with Clessidra and with others such as Permira, a European private equity firm which owns Hugo Boss and New Look, and VTB Capital. Along with the sale, Cavalli has also announced that Renato Semerari will be the new CEO, Francesco Trapani will be the new chairman and Peter Dundas will be the new creative director.
The Roberto Cavalli brand is famous for its unique eye catching prints which can be found on its garments. Roberto Cavalli himself invented a technique of printing on leather in the 1970s. His career began when he demonstrated these leather printing techniques and creating patchworks of different material, which caught the attention of many better known designers of the time such as Hermès and Pierre Cardin. Even before this, as a student learning textile print, some of his designs were catching the attention of major hosiery factories of Italy. He has also been credited with the creation of sand washed jeans. The brand has also been home to many top models, including Mariacarla Boscono and Karolina Kurkova. In 2013 Cavalli was awarded an Honorary Master Diploma in Fashion Management from the Domus Academy in Milan.
It may then be asked how Cavalli feels about his brand being sold. In an interview with Womenswear Daily, he said “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. 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 new chairman, Francesco Trapani also spoke, celebrating the sale. He said “We really wanted to reach this agreement as we strongly believe in the potential of Roberto Cavalli…Cavalli’s brand identity is an asset that we want to preserve, a key factor on which we will found all the company’s plans for international growth.”
Images Source: Huffington Post, Vogue and Daily Mail.