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Tuesday / February 18.

Dubai property developer reportedly buys Italian fashion house Roberto Cavalli

Dubai property developer Damac Properties has bought Italian fashion brand Roberto Cavalli, it has been reported.

The investment company Vision Investment Co.LCC that is controlled by the founder of Damac Properties Group, Hussain Sajwani, has reportedly signed a binding agreement to obtain 100% of Roberto Cavalli S.p.A. for an undisclosed amount, WWD magazine reported.

Previously, DAMAC partnered with Roberto Cavalli to build a fashionable collection of luxury villas in Dubailand boasting a “Just Cavalli” interior design.

Roberto Cavalli has yet to publicly confirm the sale, Arabian Business reported on Wednesday, citing the caveat that any sale requires approval by the Milan Court.