Dubai's DAMAC Confirms Roberto Cavalli Not for Sale Amid Speculation

Dubai's DAMAC Group, owner of the Italian fashion brand Roberto Cavalli since 2019, has firmly denied rumors that the brand is up for sale, emphasizing continued investment and growth. The company confirmed it remains open to strategic partnerships that could add value but is not considering a full divestment. Roberto Cavalli has been expanding its global presence with new store openings in locations such as Ibiza, Dubai Mall, and Los Angeles, as well as collaborations with brands like SKIMS and LeSportsac. Despite challenges in the luxury sector, DAMAC has integrated the Cavalli brand into its real estate developments in Dubai and pursued a turnaround strategy. DAMAC, founded by Emirati businessman Hussain Sajwani, is a diversified conglomerate with interests in real estate, luxury goods, and data centers, and recently announced significant investments in the U.S. data center sector. The company’s statements consistently refute speculation around ownership changes while highlighting their commitment to Roberto Cavalli's growth and profitability.