MILAN — Roberto Cavalli is closer to selling a majority stake in his namesake brand, with the deal expected to be completed in mid-October.
The Italian designer has signed a letter of intent to sell a 60 percent stake in his company to VTB Capital, according to market sources, confirming a WWD report last month. The eventual goal is to launch an initial public offering in four to five years, WWD has learned.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"