Roberto Cavalli is a fashion house in motion. As of Jan. 27, chief executive officer Gianluca Brozzetti and chief operating officer Carlo Di Biagio had left the company, and WWD reported Wednesday that Daniele Cavalli, the son of Roberto and Eva Cavalli and the creative director of menswear, has departed as well.
The news comes amid —- and is probably linked to —- rumors of a possible buyout: Italian weekly Il Mondo reported last week that European private equity firm Permira was in talks to acquire Cavalli's business for 450 million euros, or $600 million.
The fashion house denied those rumors after the Il Mondo story ran, and Cavalli's Italian press office confirmed with us that the company has not signed any agreements on a sale at this point. But all the internal shuffling seems to suggest that something is going on.
The Financial Times is still reporting that Permira is indeed in talks with Roberto Cavalli to buy a controlling stake in the company, although the deal is in its early stages as the two parties have reached different valuations of the brand. Both Cavalli and Permira declined comment for the FT.
If a deal is signed, it will be Permira's first investment in the Italian luxury market after selling Valentino to Qatari investors less than two years ago.
According to Vogue UK, neither Brozzetti nor Di Biagio are being replaced at this point, with Cavalli and legal affairs director Daniele Corvasce splitting their duties. Cavalli will also take over menswear for the time being.