After almost a year of being in talk with different firms to sell majority control of the company, Italian fashion house Roberto Cavalli has announced that private equity firm Clessidra S.p.A has purchased a 90 percent stake in the company. This isn’t the first time these two have discussed a financial partnership: the Italian equity firm was in talks with Cavalli back in 2009 to acquire a 30 percent stake in his company.
Now, Clessidra S.p.A has hired former Bulgari CEO Francesco Trapani as chairman of Cavalli, while Renato Semerari, who was president at US perfume group Coty, will be the new chief executive. Could this be a retirement plan for Cavalli as he prepares himself for, probably, lower sales for the company in the future? We will have to wait for Cavalli’s Ready-to-Wear collection in September, which will also serve as the comeback of Peter Dundas, who recently returned as creative director after a 3-year stint at the brand from 2002 to 2005.