Quashing rumors about the Roberto Cavalli business being up for sale, Hussain Sejwani, Owner, Damac Group says, the group has been investing in the growth and success of the company since acquiring it in 2019 and continues to remain interested in acquiring strategic partners who can add value to the business, he adds.
Robert Cavalli has faced the same challenges that have hit the rest of the luxury sector in recent years. However, the brand continues to open new boutiques and launching regular collections as well as collaborations. This year alone, the brand opened new stores in Ibiza, Dubai Mall and Los Angeles besides collaborating with Skims and LeSportsac.
Launched in 1970, the label’s founder died a little over a year ago. The company had been bought just before the pandemic by DAMAC, which is a multi-billion-dollar business conglomerate founded and headquarted in the UAE by Hussain Sajwani. The parent company also invests in luxury real estate, capital markets, hotels/resorts, manufacturing, catering, and data centers.
