Roberto Cavalli may find a new home with Diesel’s parent company, OTB.
Diesel founder Renzo Rosso is reportedly interested in purchasing the exuberant, luxury label through his OTB holding company.
The news was first reported by Italian newspaper Il Sole 24 Ore, which says OTB is one of a dozen companies that have expressed interest in the Italian fashion house.
Cavalli is controlled by private equity firm Clessidra, which is reportedly considering a partial or total sale. In October, the company confirmed that it hired Rothschild to look for a minority partner to help fund growth.
Along with Diesel, OTB owns luxury apparel labels Marni, Viktor & Rolf and Maison Margiela and accessories brand Paula Cademartori. The Italian group also owns the children’s wear company, Brave Kid, which produces licensed apparel for Diesel, John Galliano, Dsquared2, Marni and Trussardi Junior.
Acquiring Roberto Cavalli would wrap up a busy fourth quarter for Diesel and OTB.
Diesel launched a new campaign called “Hate Couture” with hip-hop artist Nicki Minaj in September.
The socially conscious campaign addresses online bullying. Ironically, the campaign’s launch was followed by a social media war of words between Minaj and rival artist Cardi B, who claims to have been Diesel’s first choice for the campaign.
And in November, Diesel confirmed with WWD that it is planning to build its first Diesel-branded residential property. The 143-unit condominium and retail complex, part of the Diesel Living line, will be located in in Miami’s trendy Wynwood neighborhood. The property will boast the fashion brand’s signature industrial look with amenities that cater to a millennial audience.
Roberto Cavalli is familiar with designer properties. The company inked a deal with Dico International in October to launch a group of hotels with interior designed by Roberto Cavalli. The first property is scheduled to open in Dubai in 2023.