Roberto Cavalli sells Paris flagship & showroom building
Roberto Cavalli has announced the sale of its Parisian owned 7 story building on Rue Saint Honore which includes its flagship store and sales showroom for 149 million euros. The company will cash in 100 million euros, amount which will be used against the payment of loans by Unicredit, BNL, Cariparma and Mediocredito banks.
This is part of the strategic plans by the newly appointed CEO Renato Semerari. The plans are in line with the transition from a family owned business to a corporate structure. Roberto Cavalli will open a new store in Houston and will close less-profitable flagship stores in Tokyo and Shanghai.