Now it's official: Roberto Cavalli, one of the successful brands of Made in Italy fashion of the last few decades, will no longer fly the Italian flag: the brand that bears the name of the Tuscan designer, which in the past already ended up in the hands of the private equity fund Clessidra, has now been bought by the private investment company Vision Investments, by Damac President Hussain Sajwani.
Vision Investments, which is part of the Dico group and has its headquarters in the United Arab Emirates in Dubai, was therefore the best bidder among the various entities that were contending for the Cavalli brand. The agreement follows a partnership that has actually already existed for years between the Florentine maison and the Arab group: already in 2017 Cavalli began to develop the interiors of luxury hotels through the brand “Aykon Hotels with interior design by Roberto Cavalli”.
Speaking on the acquisition, Hussain Sajwani said: “We are thrilled to continue the incredible story of the Roberto Cavalli brand. Dico boasts a long and fruitful collaboration with Roberto Cavalli, e I think the brand perfectly matches our idea of luxury. I am pleased to report that the transaction has gone smoothly and we will ensure management stability. Dico Investments' goal is to own brands with international prestige, and this acquisition marks a significant step in our strategy”.
Founded in 1992, the Dico Group is the “multi-billion dollar” investment arm of Hussain Sajwani, with diversified interests in markets around the world. The company's investments are divided into five key areas: financial markets, real estate, hotels & resorts, manufacturing and catering and, now, luxury fashion. The company expects to "invest approximately $3 billion over the next few years in key markets in Western Europe and the United States," according to a statement. However, the amount of the Cavalli affair was not disclosed.
