ROBERTO CAVALLI hires top executives in a new strategy to fight crisis
Reuters reports Italian designer Roberto Cavalli has hired two top luxury and fashion sector managers to run the group dropping a plan for a private equity partner to support its growth plan.
Gianluca Brozzetti, 55, was named as Group Chief Executive Officer and 57 year-old Carlo Di Biagio as Group Chief Operating Officer. Cavalli abandoned talks with private Italian equity fund Clessidra on selling a 30 percent stake in August.
The CAVALLI groups was previously managed by the Cavalli family. "I have decided to pursue this route after having examined attentively the possibility of opening the company’s shares to financial investors, plans now dropped," Cavalli said.
In its statement, Roberto Cavalli also said first half of 2009 sales fell 19 percent to 88 million euros.