Dubai developer in Roberto Cavalli acquisition

Worldwide
Published:  21 June, 2019

The Dubai based luxury real estate developer is said to be the Italian fashion label’s preferred investor.

According to sources close to the matter, Dubai developer Damac is Roberto Cavalli’s preferred potential acquirer. Allegedly, two other binding offers for the whole Group have been submitted by Diesel owner, OTB, and U.S. brand management company Bluestar Alliance. Cavalli’s management and its majority owner, Clessidra, have not made any official comments on the matter. As reported by ILM, the Italian label is said to have received five potential offers since it sought a deal with its creditors to avoid bankruptcy.

Sources: Reuters/Gulf News