FLORENCE, ITALY – Italian private equity firm Clessidra has signed a deal to acquire 90% of Roberto Cavalli. L-GAM international fund and Chow Tai Fook Entreprises Limited, a holding company controlled by the Cheng family, are partners in the deal alongside Clessidra.
The founder of the fashion house will retain the remaining 10%. Florence native Roberto Cavalli opened his first boutique in Saint-Tropez in 1972, and is known for exotic prints and for creating the sand-blasted look for jeans.
Roberto Cavalli was born in Florence, Tuscany. His grandfather, Giuseppe Rossi, was a member of the Macchiaioli Movement, whose work is exhibited in the Uffizi Gallery. Cavalli enrolled at the local Art Institute, concentrating in textile print. While still a student, he made a series of flower prints on knit that caught the attention of major Italian hosiery factories.