Dubai property developer buys Italian Cavalli

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DUBAI: International media outlets have reported that Dubai-based property developer Damac Properties has bought Italian fashion brand Roberto Cavalli. The investment company Vision Investment Co.LCC that is controlled by the founder of Damac Properties Group, Hussain Sajwani, has reportedly signed a binding agreement to obtain 100% of Roberto Cavalli S.p.A. for an undisclosed amount, WWD magazine reported.
Previously, DAMAC partnered with Roberto Cavalli to build a fashionable collection of luxury villas in Dubailand boasting a Just Cavalli interior design. Roberto Cavalli has yet to publicly confirm the sale, Arabian Business reported on Wednesday, citing the caveat that any sale requires approval by the Milan Court.

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