fashion + beauty + insider interviews + est 2006
Wednesday, August 05, 2009
italy - a few months back, roberto cavalli announced he was selling a 30% stake in his company, only to reneg on his announcement soon after. the problem has been in the value of the company. cavalli values it at a much higher price than what investment companies looking to buy a piece of his pie do. the cycle repeats itself with clessidra, a hedge fund company which signed an intent to buy deal with cavalli back in june. now comes word that talks have broken down. cavalli is adamant that his company is worth 3.1 billion, while clessidra maintains that the work is 1.2 billion. the back and forth on price has led to a stalemate. this may or may not be permanent, but either way cavalli's need for a white knight remains. stay tuned, till the next episode.
photo: roberto cavalli; bauer-griffin