Dubai Developer Tight-Lipped Over Cavalli Takeover

26 June 2019

Reported front-runners for a takeover of luxury fashion brand Roberto Cavalli, Damac Properties are remaining tight-lipped over the potential move.

In a statement to Arabian Business, PR representatives speaking on behalf of the Dubai property developer said they were not able to comment. But in a separate statement to Dubai Financial Market (DFM), Adil Taqi, Group CEO, denied a news report from Reuters, which suggested Damac was in ‘pole position’ to acquire the brand.

Roberto Cavalli is up for sale, with five different offers reportedly put forward. The other firms reportedly interested are include Italy’s Diesel-owner OTB and US brand management company Bluestar Alliance.

Damac is a partner with the Italian fashion house for their Just Cavalli Villas in Dubailand. While it was announced in October last year that Aykon Hotels by Damac Properties will feature luxury interiors by Roberto Cavalli.

Cavalli held a board meeting on Wednesday to examine the bids, though the final decision rests with the bankruptcy court which granted creditor protection to the brand in April.



Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.