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The Italian luxury fashion label has been acquired by Dubai-based Vision Investment.
The Dubai-based Vision Investment, owned by millionaire Hussain Sajwani and part of the real estate developer Damac Properties Group, was one of the last three binding offers presented June 14. Reportedly, Vision Investment is to acquire 100% of Roberto Cavalli SpA for an undisclosed amount. However, €100 million are expected to be paid to creditors and another €60 million are to be invested in relaunching the brand.
Source: Arabian Business