With Versace now owned by Michael Kors and Missoni under new investment, there are changes afoot in the world of luxury fashion. One iconic label for whom things have not been looking so hot is Roberto Cavalli.
In March, Roberto Cavalli filed for bankruptcy in Italy and the U.S. and closed all of its stateside stores. This came just a week after Creative Director, Paul Surridge, jumped ship. But Cavalli fans fear not! Today it was announced that Dubai-based billionaire Hussain Sajwani, who owns Damac Properties Group, hacd bought 100 per cent Roberto Cavalli S.p.A. for an undisclosed amount.
This comes hot on the heels of a previous partnership to create a series of “Just Cavalli” villas in Dubailand, which sold out in the first month. With Aykon Hotels by Damac Properties to feature luxury interiors by Roberto Cavalli, this could be just the beginning of a Dubai-wide Italian renaissance.