Roberto Cavalli now has a new owner

Roberto Cavalli - One of the top Italian luxury fashion brands was officially bought by Vision Investment Co.LCC based in Dubai that belongs to billionaire Hussain Sajwani who owns Damac Properties, a rapidly growing real estate development company. The capital value that Vision invested in the Roberto Cavalli brand has yet to be revealed.

The Italian luxury fashion giant now has a new owner

It is reported that Roberto Cavalli has filed for bankruptcy in Italy and the United States and closed all stores in the United States in March. Vision Investment Co.LCC has signed a binding agreement to obtain 100% of Roberto Cavalli SpA. Vision has won over other 4 competitors (including Bluestar Alliance and Renzo Rosso’s OTB) to occupy Roberto Cavalli brand. After months of speculation, Damac Properties has emerged as the new owner of the Italian luxury fashion giant-Roberto Cavalli. Damac has already collaborated with Cavalli at some projects before as a series of “Just Cavalli” villas in Dubailand, which sold out in the first month. Besides, designing rooms in the five-star hotel towers that Damac is developing. According to an announcement on October last year, Damac Properties' Aykon Hotels will be featured Roberto Cavalli's luxurious interior.