Marquee Brands to Acquire Majority Stake in Roberto Cavalli with Damac
Marquee Brands and Damac Partner to Expand Roberto Cavalli
ROME, May 21 (Reuters) - Brand licensor Marquee Brands on Wednesday said it would pick up a majority interest in Italian fashion group Roberto Cavalli through a partnership with United Arab Emirates-based luxury real estate developer Damac.
Deal Structure and Timeline
• The deal is expected to close in the second quarter of the year, with Damac as a "significant shareholder" of the company, the statement said.
Background of Roberto Cavalli Ownership
• The Florence, Italy-based fashion group, known for its bold patterns and designs, is owned by Auriel Investment, controlled by Damac's founder Hussain Sajwani, who rescued it in 2019.
Strategic Vision and Brand Expansion
Statements from Leadership
• "We see extraordinary potential to build on that foundation through thoughtful brand stewardship and strategic expansion," Marquee Brands CEO Heath Golden said.
Global Expansion Plans
• The statement added that the new partnership would expand the Cavalli brand's reach, introducing new categories and services across Europe, the U.S., the Middle East, Asia-Pacific and Latin America.
Finding the Right Strategic Partner
• "After several years of solidifying the brand's foundation, we set out to find a strategic partner with the skillset to take the brand to the next level," Sajwani said.
Future Projects and Operations
Expansion into Residences and Hospitality
• Damac will continue to expand the group's business through Roberto Cavalli-branded residences and hospitality projects.
Role of The Level Group
• Milan-based The Level Group will lead development, manufacturing and distribution of the collections as well as retail and e-commerce operations.
Marquee Brands Portfolio Overview
• Marquee is owned by funds managed by global investment firm Neuberger. Its portfolio of brands includes Martha Stewart, Laura Ashley, Sur La Table, BCBGMAXAZRIA and Stance. The addition of Roberto Cavalli will bring its total portfolio-wide retail sales to about $5 billion, it said.
(Reporting by Giulia Segreti in Rome; Editing by Thomas Derpinghaus)
