Designer Roberto Cavalli Sells His Company

ROBERTO CAVALLI

Photo: roberto_cavalli on Instagram

In breaking fashion news, Italian designer Roberto Cavalli has officially sold his company to Clessidra SGR, an Italian private equity fund. According to Women’s Wear Day after day, Clessidra is now set to own 90 per cent of the Cavalli fashion household. Meanwhile, the mark’s founder Cavalli will own just 10 per cent of the company.

“I am extremely satisfied to have signed this covenant with an Italian partner which, I am sure, will further develop what I have built in a lifetime” Cavalli said to Women’s Wear Day after day. The 74-year-ancient designer launched his eponymous fashion household in 1972. Over the years, Cavalli has become known for eye-catching patterns, bright colours and flowing fabrics on the airstrip.

The mark, which is based in Florence, will now be headed by Renato Semerari as CEO and Francesco Trapani as chairman. Semarari was previously the CEO of designer household Guerlain, while Trapani was the CEO of Italian luxury jewellery brand Bulgari.

Cavalli’s new creative director is Norwegian designer Peter Dundas. The former artistic director of Emilio Pucci was just appointed to the position in March.

Original article: Designer Roberto Cavalli Sells His Company