Roberto Cavalli 'exploring strategic partnerships' as it eyes growth
Italian fashion house Roberto Cavalli has said it is 'exploring strategic partnerships' as it looks towards 'the best path for growth'.
The news comes amid ongoing turnaround efforts at the brand, which is currently under the ownership of Emirati businessman Hussain Sajwani.
The statement, initially issued to and published by Reuters, read: 'Cavalli is working to find the best avenue of growth, which includes exploring strategic alliances.
'This process will be carried out with the participation of all relevant shareholders.'
Since rescuing Cavalli from bankruptcy in 2019, Sajwani has set out to enact a restructuring agreement granted by the Italian courts.
Much of his focus has been on strengthening the brand's presence in the Middle East, where it has established real estate projects and taken part in events like Dubai Fashion Week.
Cavalli has also explored new ventures, like a licensing agreement for a homeware collection, collaborations with culturally-relevant brands like Skims and a string of store openings across Europe, Asia and North America, diversifying its portfolio.
The brand is currently helmed by creative director Fausto Puglisi and chief executive officer Sergio Azzolarias, who had been tapped back in 2023 for his 'transformation experience and intense focus on results', Sajwani had said at the time.
Efforts seemed to have been paying off according to the brand's most recent available financial statements. In 2023, Cavalli recorded revenues of 120 million euros, up from 80 million euros in 2022.
FashionUnited has contacted Roberto Cavalli with its own request to comment.
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