According to the media, the investment department of the state-owned bank, VTB-Capital, may buy 60% of the company founded by the Italian fashion designer
Moscow. August 12. Interfax.ru. VTB-Capital, the investment department of VTB Group, is attending meetings regarding the purchase of major shares of the Italian fashion brand Roberto Cavalli. This is reported by the industrial publication Women’s Wear Daily citing an anonymous source. The information is confirmed by Vedomosti newspaper with its own sources.
According to the media, VTB-Capital intends to by 60% of the Roberto Cavalli company. The sum of the contract may constitute over $667 million, and the entire brand, according to end results of the bargain, may be evaluated at $1,1 million. At the moment VTB-Capital has no investments in the fashion industry.
As WWD notes, Cavalli is currently discussing how his business will be coordinated after the sale of the major share. In particular, the designer is interested in what his wife Eva would do, who currently assists him in creating collections.
Translated by Mariya Shcherbinina