Italian designer Roberto Cavalli is making 'big changes' to fashion label
Published 24/03/2014 | 14:05
Roberto Cavalli is rumoured to be in talks to sell 80 per cent of his business.
There has been speculation that the Italian designer is planning to make some big changes to his fashion label for months.
It's now been claimed he could be letting a majority stake go, with reports the discussions are now in the final stages.
According to WWD, Cavalli and the firm he is in talks with are still to agree on how much the iconic label is worth. The publication suggests private equity fund Permira is the front runner in the deal, although it is remaining tight-lipped about the rumours.
"The fund does not comment on market rumours," its spokesperson said. The Cavalli company has also decided against releasing a statement.
Permira is one of fashion's major players and was a name thrown into the hat when Versace took on a minority investor. Eventually that role went to Blackstone Group, but Permira does have a percentage in Hugo Boss.
In 2009, it was reported that Cavalli was in talks with Italian company Clessidra SGR SpA about selling a 30 per cent stake. That deal didn't materialise, apparently as the two sides couldn't agree on the fashion house's valuation.
If the deal does go ahead, it is unclear what it would mean for the designer. He has previously said he can never imagine retiring because creating pieces and staging shows means so much to him.
“How could I stop? Indeed, I could not stay away from the catwalk. When I go out, it’s such an emotion… and I look you all in the eyes,” he said last year.