STILL ON: Roberto Cavalli is fine-tuning details of the sale agreement to VTB Capital, with papers mapped out and finalized, and a deal expected to be unveiled at the end of August, according to sources. As reported earlier this month, Cavalli is negotiating to sell 60 percent of his namesake company to VTB Capital, part of VTB Group, a major Russian investment bank, for 500 million euros, or $669.8 million. The deal values the brand at 830 million euros, or $1.1 billion at current exchange. The sale is expected to close in October.
While attempts to sell his company to Permira fell through earlier this year, Cavalli is said to be set on putting his signature on the dotted line this time, sources say.
This story first appeared in the August 19, 2014 issue of WWD. Subscribe Today.