MILAN Clessidra SGR is the new owner of Roberto Cavalli SpA.

After months of negotiations, the Italian private equity fund has signed an agreement to acquire 90 percent of the Florence-based firm.

Francesco Trapani is taking on the role of chairman of the firm, while Renato Semerari is the new chief executive officer, confirming a WWD fashion scoop this week.

Peter Dundas was appointed creative director of the brand in March.

“I am extremely satisfied to have signed this agreement with an Italian partner which, I am sure, will further develop what I have built in a lifetime” said Cavalli, who founded the firm in the Seventies. “Clessidra will provide financial, managerial and human resources that will allow the company to grow further and face the challenges of the ever-evolving luxury market”.

“We really wanted to reach this agreement as we strongly believe in the potential of Roberto Cavalli,” said Trapani. “It is a company with a unique style, unparalleled market positioning and a truly global awareness. Cavalli’s brand identity is an asset that we want to preserve, a key factor on which we will found all the company’s plans for international growth.”

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