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.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)