Sale of Fashion Brand Denied

Damac Group has refuted rumors of selling the Roberto Cavalli brand, emphasizing its commitment to the fashion house. The Dubai-based developer acquired Roberto Cavalli in 2019 and has since invested heavily in its growth. The company stated that Roberto Cavalli is not for sale and that they remain open to strategic partnerships that can enhance the brand's value.

Damac has integrated the Cavalli brand into its Dubai developments, notably with projects like Damac Bay 1 at Dubai Harbour, launched in January 2023 and slated for completion in July 2027. This strategic move aims to leverage the brand's appeal within the luxury real estate market.

The acquisition in 2019 was intended to revitalize the Cavalli brand, which experienced significant popularity in the 1990s and 2010s. Damac's continued investment and integration of Cavalli into its projects signal a long-term strategy for the brand's expansion and success.