Roberto Cavalli Restructuring Paris Property To Be Sold

Italy luxury brand Roberto Cavalli SpA began restructuring after selling its controlling stake.

The sale of Paris flagship property is the first step in Renato Semerari's pformation and reorganization of Roberto Cavalli SpA from the traditional family business to the enterprise structure. The second stage of the reorganization will focus on the collation of the store mix. Renato Semerari plans to close the stores with poor brand performance in Shanghai and Tokyo, and to open new flagship stores in Houston and other cities in the United States.

According to Italy media, Roberto Cavalli SpA will sell a 7 floor in Paris luxury brand Rue Saint Honore San O Road, 145 million euros.

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The location of the flagship store and exhibition room in Paris.

In the 100 million euros after the tax, Roberto Cavalli SpA will use 69 million euros to repay loans from banks such as Unicredit, BNL, Cariparma and Mediocredito. The rest will be used for other investments.

Roberto Cavalli SpA went to Italy in April this year.

Clessidra SGR SpA sold 90% stake, and designer Roberto Cavalli retained the remaining 10% stake.

Clessidra SGR SpA executive vice president Francesco Trapani is the Roberto Cavalli SpA chief executive officer, while Renato Semerari, the former chief executive officer of Guerlain Guerlain, is the new CEO of the company.