The fashion empire of Roberto Cavalli on sale

The fashion empire of Roberto Cavalli on sale…

Roberto-Cavalli1

After several months of speculation, Italian designer Roberto Cavalli, the deal to sell a majority stake in his empire fashion company will be probably executed by October.

The designer has apparently signed a letter of intent to sell a 60 percent stake in his company to VTB Capital for 500 million euros, or 399 million pounds, with the agreement expected to be finalized sometime mid-October, reported WWD.

The agreement values the designer’s fashion house at 830 million euros, or 662 million pounds according to current exchange rates, which is four times the amount of the company’s sales in 2013, which reported sales of 201 million euros last year.

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s