UAE Tycoon buys Roberto Cavalli fashion brand

Chairman of Dubai based Damac Properties Hussain Sajwani bought Italian fashion group Roberto Cavalli SpA through his private investment firm.

Sajwani’s Vision Investments completed the acquisition of the Florentine brand on Thursday, according to a statement. It didn’t provide a value for the deal, Bloomberg reported.

As per Forbes 2019, Sajwani’s net worth stands at $1.8 billion.

Roberto Cavalli was previously controlled by the Italian private equity company, Clessidra Sgr.