UAE: Dubai’s Pragma Group, which has an exclusive licencing deal with Italian designer Roberto Cavalli is set to unveil plans for its first Cavalli-branded hotel.
UAE: Dubai’s Pragma Group, which has an exclusive licencing deal with Italian designer Roberto Cavalli is set to unveil plans for its first Cavalli-branded hotel.
The hotel will be in Dubai and will open as as the company prepares to launch an initial public offering within the next three years.
Pragma Group chairman Joe Tabet said: “As far as Cavalli is concerned it is one of the international brands we have been concentrating upon. We are working on this project with Cavalli and we are going to announce it very soon. I believe in the next couple of months we are going to be able to do a general, more comprehensive announcement.”
He added: “Currently we raise funds in the private market. Definitely the way we are structuring ourselves we are preparing for an IPO, not for the whole company but maybe some of the sectors that are eligible for an IPO. We are striking strategic alliances with those in the industry to take us there. It is a process that is going to take about two to three years.”
The Cavalli hotel will continue a trend which has seen fashion brands flying over hotels. These include Missoni, Armani and Bulgari.
www.pragma-group.com
