Roberto Cavalli says may sell part of company
ROME (Reuters) - Roberto Cavalli could consider selling up to 30 percent of his fashion company, which he said is worth over 2 billion euros ($2.86 billion), in a few years' time, the Italian designer told Reuters on Thursday.
"I'm thinking about 20 or 30 percent," Cavalli said at an event to launch his collection for the world's third-largest apparel retailer, Hennes & Mauritz (HMb.ST).
He ruled out selling the whole of the company, which includes brands Roberto Cavalli and Just Cavalli.
"The company is mine; it's my baby," he said, and added that he has still not made up his mind about a sale.
"I don't promise. I don't need money," he explained.
"A few equity funds approached me, and I was really curious to know what the valuation could be," he said.
Cavalli's collection for H&M will launch in its shops worldwide on November 8 and could sell out within weeks, if sales follow the pattern of previous tie-ins with designers by the Swedish company.
Cavalli has transferred his trademark leopard prints and gold glitter to a cheaper line for H&M, which includes a bronze accordion pleated evening gown that will sell for 299 euros, the retailer's most expensive frock ever.
The collection for women features zebra and leopard prints prowling over chiffon dresses, bustiers and spikey shoes, while for men there are classic black tuxedoes with a satin sheen or jeans with gold stitching and leopard print scarves.
"I am the animal print designer," Cavalli said.
He added that his inspiration for the collection was young customers who knew him for dressing film stars such as Sharon Stone and singer Beyonce but felt they would never be able to afford one of his creations.
"With this kind of dress, they like to dream with me," he said.
The collection is priced at a fraction of the designer's normal ready-to-wear charges, and H&M has used producers in Romania, China and Turkey instead of Italian manufacturers.
"This hurts me a little bit to see my name on 'Made in China', because everything that (my company) makes is 'Made in Italy'," he said.
