Cavalli Is Not For Sale

09-07-2008 16:18

Roberto Cavalli has taken his fashion label off the market and decided against selling up.

The design legend put the fashion house up for sale in April but has now changed his mind according to wwd.

Cavalli was disappointed by the low valuations of his international business- due to the state of the current world market- and decided that the timing was not right for a sale.

"I'm not selling the company. The timing is not ripe yet for such a step. What's more, as I have already said a thousand times, we don't need [to sell]," he reportedly said in an interview with Il Sole 24 Ore.

"A year ago, [the banks] spoke to me about certain numbers, which today have vanished with the stock market crisis. I'm not selling for 800-900 million [euros]," he added.