Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Five Investors Bid to Rescue Roberto Cavalli

The Tuscan company received three binding offers for taking over the whole group, one binding proposal for just some assets, as well as a non-binding expression of interest.
Roberto Cavalli Store | Source: Shutterstock
By
  • Reuters

MILAN, Italy — Five potential investors showed up for the rescue of Italian fashion house Roberto Cavalli, the company said on Friday without naming the suitors.

The Tuscan company received three binding offers for taking over the whole group, one binding proposal for just some assets, as well as a non-binding expression of interest.

In the next few days, the board will look at the bids along with company's main shareholder Clessidra, with the aim of choosing the best offer to ensure the industrial continuity of the luxury group, a source close to the matter said.

However, the final decision rests with the bankruptcy court which had granted creditor protection to the troubled brand in April, giving it up to four months to present a turnaround plan.

ADVERTISEMENT

Italian private equity firm Clessidra took over 90 percent of the label from the founder Roberto Cavalli in 2015, in a deal that valued the company at about 390 million euros (£347 million), sources said at the time.

But the new owner was unable to turn around Cavalli despite a new CEO and a new designer. In September it hired Rothschild to find another investor, given the Clessidra fund holding the Cavalli stake was close to its statutory investment limit, a source had said.

According to a document filed in April by Cavalli with a Milan court, three of 80 potential investors contacted by Rothschild had expressed interest in buying the company as a whole: a US holding company Bluestar, which owns fashion brand Bebe, Italian Diesel-owner OTB and German fashion designer Philipp Plein.

By Claudia Cristoferi; Editor: Francesca Landini

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Luxury
How rapid change is reshaping the tradition-soaked luxury sector in Europe and beyond.

The Existential Threat to Independent Brands

This week, The Vampire’s Wife announced its closure and Dion Lee called in administrators, only days after Mara Hoffman said it was shutting down and Roksanda narrowly escaped administration. Many more may follow.


How Chopard Seizes the Red Carpet Spotlight in Cannes

The Swiss brand out-sparkles rivals with a strategy aimed at driving sales as well as image. This year the company dressed Greta Gerwig, Demi Moore and Bella Hadid as well as hosting clients to view (and purchase) its high jewellery range.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.