According to WWD, Roberto Cavalli is up for grabs. Turns out Cavalli has been talking about it for the last 18 months but hasn't found a good suitor.
Cavalli's designs have been sought after by celebrities and socialites for more than 40 years. Cavalli designed Jennifer Lopez's whole waredrobe during her last tour to keep her pregnancy a secret, but instead Cavalli slipped and accidentally told reporters the news.
Even though he launched a must-have line for H&M and has expanded his distribution, the privately owned company, will have to start the bidding process soon. The luxury line hasn't been growing as quickly as they originally thought.
"Recent estimates value Cavalli in the region of 1.2 billion euros, or $1.89 billion at current exchange, well short of the 2 billion euro, or $3.14 billion, price tag the designer is believed to have slapped on the business he set up more than 40 years ago," says WWD. Cavalli has rejected offers for about $1.6 billion (USD) because he "wanted to maintain a majority of his stake in any prospective deal..."
With the economy going into a recession, it might look like Cavalli might have to take that deal.
(Roberto Cavalli Fall 2008, Images from www.Style.com)
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