Roberto Cavalli’s parent company confirms brand is not for sale

DAMAC Group, the parent company of Italy’s Roberto Cavalli, has confirmed the brand is not up for sale. Its comment comes in response to media speculation that suggested the company was exploring strategic options for the brand.

In a statement shared with FashionUnited on July 31, a spokesperson for the DAMAC Group said: “Since acquiring the Roberto Cavalli business in 2019, DAMAC have invested significantly in the growth and success of the company.

“Roberto Cavalli is not for sale. As before, we remain interested in strategic partners who can add value to the business.”

Speculation over Cavalli’s ownership began circulating last month, when the brand said it was looking into “strategic alliances” as it eyed growth opportunities. In a statement to Reuters, it said: “This process will be carried out with the participation of all relevant shareholders.”

The company had not clarified at the time whether it was contemplating a sale of the entire business or if it was looking for a minority investor.

Following its acquisition of Cavalli after its descent into bankruptcy, DAMAC Group, owned by Emirati businessman Hussain Sajwani, set about enacting a turnaround strategy at the brand.

Much of its efforts were focused on strengthening Cavalli’s presence in the Middle East, where it has established real estate projects and taken part in events like Dubai Fashion Week.

Cavalli has also explored new ventures, like a licensing agreement for a homeware collection, collaborations with culturally-relevant brands like Skims and a string of store openings across Europe, Asia and North America, diversifying its portfolio.