Roberto Cavalli in Talks to Sell Minority Share of His Company
Roberto Cavalli confirmed
that he hopes to sell between 15 and 20% of his company to a private equity firm. The Italian firm in talks with Cavalli is Clessidra SGR SpA. Cavalli needs a cash infusion to grow the business and has been looking for a suitable investor.
"We are still at the beginning [of negotiations], but I am hopeful," Cavalli said on the sidelines of his fall-winter show here on the second day of men's fashion week. "I need a serious financial partner... [Clessidra] is a well-managed Italian group. I hope they will help grow my company."
He declined to give more details.
As reported, the Italian designer told a local business daily last week he was close to signing a preliminary deal with Clessidra and that he would like to list on the stock market in three or four years.
Sources close to the deal said the parties had been speaking on exclusive terms for some time.
Cavalli 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."
Cavalli wants to expand his brand empire and eventually take the company public.
