Roberto Cavalli, courtesy of H&M

Cavalli agrees to sell 30 percent to Clessidra (Reuters)
“Italian designer Roberto Cavalli has signed a letter of intent with Italian investment fund Clessidra to sell 30 percent of his fashion house.”

New Look EBITDA soars 10 percent (Drapers)
“Total group sales in the year to March 28, grew by 14.9 percent to £1.32 billion and EBITDA rose 10.2 percent to £217.6 million.”

What Is Sugar, Inc. and Why Is It Worth $31M in VC Funding? (Fast Company)
“Sequoia Capital announced yesterday that it will give a third round of cash to a quick-growing media network, Sugar Inc., bringing the Valley-based company’s total VC purse to $31 million.”

Gucci, Richemont Seek $4 Million Sanction Against Bank of China (Bloomberg)
“Gucci, along with Chloe SAS and Alfred Dunhill Ltd, a unit of Cie. Financiere Richemont SA, said in court papers filed last night that Bank of China has refused to surrender records of companies against whom they won a $4.3 million judgment in a fashion-counterfeiting case.”