Cavalli open to sale of majority to Richemont -WSJ

ZURICH, Sept 24 (Reuters) - Italian fashion designer Roberto Cavalli has said he is open to selling a majority stake in his fashion company to Swiss-based luxury goods group Richemont (CFR.VX), the Wall Street Journal said on Monday.

Cavalli said in an interview on Sunday he had not been in talks with Richemont but hoped to receive an offer from the group.

"Richemont is the most interesting group, because it does not have a lot of fashion (brands)," Cavalli told the newspaper. The Journal said a Richemont spokesman could not be reached for comment.

Cavalli, who is 66, has been seeking a buyer for his company in recent months, including private equity companies such as Carlyle Group.

Cavalli said he was open to selling a majority stake in his firm, which he valued at "much more" than 1 billion euros ($1.41 billion), the Journal said.

He expected sales revenues at the brand, which does not report earnings, to top 700 million euros this year.

Cavalli was quoted by Italian newspaper Il Sole 24 Ore on Saturday as saying he was also considering a stock exchange listing.

He was also quoted as telling Il Sole that he would welcome an offer from Richemont, but added: "they will probably start with smaller companies; mine is big and costs a lot."

Private equity company Permira recently bought Italian designer Valentino and names such as Prada and Salvatore Ferragamo are weighing up whether to list on the stock market.

((Reporting by Andrew Hurst, editing by Greg Mahlich; +41 44 631 7336; fax +41 44 251 0476; zurich.newsroom@reuters.com))

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