40 years in charge
If the sale is completed, it spells the end of Roberto Cavalli’s 40-year reign at the head of his own fashion label. It would be the second Italian fashion house that sells part of its stock to a foreign investor in a short period of time: in February, Versace sold off 20 % to American private fund, Blackstone.
According to Reuters, the deal between Permira and Cavalli could be finalized in the next few weeks. The Italian designer is 73 years old and would finally be ready to pass control to someone else, even though he would keep 20 to 40 % of shares. In 2009, Cavalli was allegedly close to a deal with Italian investment fund Clessidra.
Permira already owns shares in several fashion companies, like German fashion house Hugo Boss. It also acquired a 300 million pound (364 million euro) stake in British shoe label Dr. Martens earlier this year.
