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Fashion house Roberto Cavalli is sold in UAE

Italian fashion house Roberto Cavalli was bought by the billionaire from the United Arab Emirates Hussein Sajwani. About it writes Bloomberg.

The transaction was concluded on November 28 through an investment company Sajwani Vision Investments. Its amount is not disclosed.

That Vision Investments buy 100% Roberto Cavalli became known in July. The Wall Street Journal estimated transaction amount of 160 million euros.

Previously Roberto Cavalli belonged to the Italian investment company Clessidra. She has bought a 90% stake in the fashion house in 2015, according to unofficial data, over 390 million euros. Another 10% remained with the designer.

Recall that Hussein Sajwani — founder and Director of the development company Damac Properties. Businessman 962 takes place in a world rating of billionaires Forbes. His fortune magazine estimated at $ 1.9 billion.

Designer Roberto Cavalli founded the homonymous fashion house in Florence in 1975. The brand creates clothes, shoes, accessories and interior design items. With 2014 revenues of the fashion house fall, including due to the decrease in sales in Russia

Source:

newsrussia.media

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