Clessidra acquires majority stake at Roberto Cavalli
The private equity firm acquired 90% of the capital of the Italian fashion house. Francesco Trapani is the new Chairman of Roberto Cavalli and Renato Semerari is appointed CEO
Roberto Cavalli is an important Italian fashion brand founded in Florence in the seventies and a reference in the international luxury goods market with an extensive network of about 200 mono-brand boutiques.
Portfolio of brands includes high-end line Roberto Cavalli, young casual line Just Cavalli, the bridge line Cavalli Class and the kids Roberto Cavalli Junior collections. All these are complemented with a wide range of licensed products, including bags, sunglasses, watches, shoes, jewellery, and a fragrance line. Roberto Cavalli also signs an Home Collection and is active in the hospitality sector through its network of Cavalli Clubs and Cavalli Cafes.
In 2014, the company increased its consolidated turnover to approximately 210 million euros.
The agreement is for the acquisition of a 90% stake in the Florentine fashion house capital by a newly established company called Varenne. The founder Roberto Cavalli will hold the remaining 10%.
Among the shareholders of Varenne, a company of which Clessidra holds the absolute majority, there are some co-investors with minority stakes, including the international investment firm L-GAM and Chow Tai Fook Enterprises Ltd, a Hong-Kong based holding company controlled by the Cheng family.
Clessidra’s Executive Vice-Chairman Francesco Trapani will be the Chairman of Roberto Cavalli S.p.A.. Previously, he was the CEO of Bulgari for over 25 years, then CEO of the Watch and Jewellery Division at LVMH.
Renato Semerari will be the CEO of Roberto Cavalli S.p.A.. Until today, Semerari served as President of the New York Stock Exchange-listed multinational Coty Group.
“I am extremely satisfied to have signed this agreement with an Italian partner which, I am sure, will further develop what I have built in a lifetime”, stated Roberto Cavalli, founder of the Florentine maison, adding: “Clessidra will provide financial, managerial and human resources that will allow the company to grow further and face the challenges of the ever-evolving luxury market”.
The closing of the operation is expected within the upcoming weeks.
Portfolio of brands includes high-end line Roberto Cavalli, young casual line Just Cavalli, the bridge line Cavalli Class and the kids Roberto Cavalli Junior collections. All these are complemented with a wide range of licensed products, including bags, sunglasses, watches, shoes, jewellery, and a fragrance line. Roberto Cavalli also signs an Home Collection and is active in the hospitality sector through its network of Cavalli Clubs and Cavalli Cafes.
In 2014, the company increased its consolidated turnover to approximately 210 million euros.
The agreement is for the acquisition of a 90% stake in the Florentine fashion house capital by a newly established company called Varenne. The founder Roberto Cavalli will hold the remaining 10%.
Among the shareholders of Varenne, a company of which Clessidra holds the absolute majority, there are some co-investors with minority stakes, including the international investment firm L-GAM and Chow Tai Fook Enterprises Ltd, a Hong-Kong based holding company controlled by the Cheng family.
Clessidra’s Executive Vice-Chairman Francesco Trapani will be the Chairman of Roberto Cavalli S.p.A.. Previously, he was the CEO of Bulgari for over 25 years, then CEO of the Watch and Jewellery Division at LVMH.
Renato Semerari will be the CEO of Roberto Cavalli S.p.A.. Until today, Semerari served as President of the New York Stock Exchange-listed multinational Coty Group.
“I am extremely satisfied to have signed this agreement with an Italian partner which, I am sure, will further develop what I have built in a lifetime”, stated Roberto Cavalli, founder of the Florentine maison, adding: “Clessidra will provide financial, managerial and human resources that will allow the company to grow further and face the challenges of the ever-evolving luxury market”.
The closing of the operation is expected within the upcoming weeks.
Related Events
Related Organizations
-
-
Footwear Consumer 2030
A study reflecting on the main global consumer trends and the key changes for the footwear industry.
-
World Footwear Public Calendar
Click here to subscribe an updated version of the calendar displaying the footwear trade shows.
-
-
-
Media Partners
Media Partners
-
MPA Style
La Conceria
UNIT Publishing House
SERMA