Roberto Cavalli Sold to Clessidra

Roberto Cavalli Sold To Clessidra
Roberto Cavalli leopard-print calf-hair boots at Milan Fashion Week 2015.
Getty

Italian private equity firm Clessidra SGR SpA has signed an agreement to purchase the Roberto Cavalli SpA brand, both companies confirmed in a statement today.

Clessidra will own a 90 percent stake in the fashion house, while founder Roberto Cavalli will own the remaining 10 percent.

According to the joint statement, Bulgari CEO Francesco Trapani will become the firm’s new chairman, and Renato Semerari, former president of categories and innovation at Coty Inc., will become CEO.

In March, Peter Dundas, former artistic director of Emilio Pucci, was appointed creative director of Roberto Cavalli.