Chairman of DAMAC Properties buys Roberto Cavalli

Eloise Hanson By Eloise Hanson
1 week ago | Updated 1 week ago

UAE: Hussain Sajwani of Dubai-based DAMAC company has bought the Italian fashion brand Roberto Cavalli through his private investment company, Vision Investments.

The acquisition of Roberto Cavalli by Vision Investments is an evolution of a partnership that was signed in 2017 between the fashion house and the DICO Group.

Under the partnership, Cavalli will develop the interiors of luxury hotels under the AYKON Hotels brand.

Sajwani commented: "We are excited about carrying forward the incredible legacy of the Roberto Cavalli brand. DICO has a long a fruitful association with Roberto Cavalli, and I believe that the brand resonates with our idea of luxury".

The DICO Group is the investment arm of Sajwani, with interests in five core areas: capital markets, real estate, hotels and resorts, manufacturing and catering, and now luxury fashion.

Some of DICO's most notable activities include the DAMAC Towers Nine Elms in London, a luxury resort in the Maldives, and the Mina Al Sultan Qaboos Waterfront real estate project in Oman, among others.

"At DICO Investments, we aspire to own internationally recognised brands, and this acquisition marks a significant step in our strategy," Sajwani added.

Over the next few years, the company plans to deploy around $3 billion in key markets across Western Europe and the United States.

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