The Damac Group, parent company of the Italian fashion house Roberto Cavalli, confirmed on Thursday that the brand is not for sale. The statement was made in response to media speculation, which suggested that the company tested strategic options for the brand.
“Since Roberto Cavalli took over in 2019, Damac has invested significantly in the growth and success of the company. Roberto Cavalli is not for sale. We are still interested in strategic partners who can create added value for the company,” said a company spokesman for the Damac Group.
Speculations about Cavalli’s ownership came last month when the brand said that it tested “strategic alliances” with regard to growth opportunities.
At the time, the company had not clarified whether it was a sale of the entire company or the search for a minority investor. After taking over Cavalli after his bankruptcy, the Damac Group, which belongs to the Emiratic businessman Hussain Sajwani, initiated a turnaround strategy for the brand. Much of the efforts focused on strengthening the presence of Cavalli in the Middle East, where the company established real estate projects and took part in events such as the Dubai Fashion Week. Cavalli has also followed new ways, such as a license agreement for a household goods collection, cooperation with culturally relevant brands such as skims and a number of business openings in Europe, Asia and North America to diversify its portfolio.
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