Fashion, Clessidra buys 90% of Roberto Cavalli: Trapani president

The group Roberto Cavalli Pass to Hourglassto. The private equity fund led by Claudius Sposito has signed the definitive agreement for the acquisition, through the newco Varenne, of the majority of the share capital (90%) of the Florentine maison for a figure that should be around 350 million euros. The remaining 10% of the fashion house would remain in the hands of the founder Roberto Cavalli.

Within the Varenne shareholding structure, in addition to Clessidra which holds the absolute majority, there are also some co-investors such as L-GAM, international investment fund, e Chow Tai Fook Enterprises Limited, the Hong Kong-based holding company controlled by the Cheng family.

Satisfied the founder of the Florentine maison Roberto Cavalli: "Happy to have completed this operation with an Italian partner who I am convinced will be able to make the most of what I have built in a lifetime. The financial, managerial and human contribution that Clessidra will guarantee to my company will enable development to face and overcome the challenges that the ever-evolving luxury market imposes”.

There will also be changes in the top management of the company, whose president will be Francis Trapani, former Executive Vice President of Clessidra, for over 25 years managing director of Bulgari and CEO of the watches and jewelery division of LVMH. The role of Chief Executive Officer, on the other hand, will be covered by Renato Semerari.