MILAN/DUBAI, Nov 28 (Reuters) - Italian trend home Roberto Cavalli was purchased on Thursday by Hus
MILAN/DUBAI, Nov 28 (Reuters) – Italian trend home Roberto Cavalli was purchased on Thursday by Hussain Sajwani, the chairman of Dubai’s Damac Properties DAMAC.DU, the businesses mentioned, ending a protracted sale course of.
The Florence-based group, based by designer Roberto Cavalli within the early 1970s and famed for its animal prints, had been struggling for years to relaunch its gross sales and achieve visibility in an business that’s more and more dominated by giant cash-rich conglomerates.
Damac’s Sajwani purchased Cavalli via his personal funding firm Imaginative and prescient Investments, a part of the DICO Group, which owns luxurious resorts and lodges and purchasing malls, a press release mentioned.
DICO Group mentioned the deal was a major step within the group’s technique and was an evolution of a partnership signed again in 2017, below which Cavalli would develop the interiors for some luxurious lodges.
DICO mentioned it could guarantee the steadiness of Cavalli’s administration.
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