Cavalli to grow design unit with luxury project in Bahrain
The Roberto Cavalli fashion house is looking for future growth in the home decor and furniture sector, with a new project furnishing a luxury residential building in Bahrain.
CEO Gian Giacomo Ferraris said that revenues from home furnishing sales have increased to 8 percent form 6 percent in 2016, when the Clessidra private equity fund bought a 89.6 percent stake from founder Roberto Cavalli, who retains the rest. Cavalli’s 2017 revenues were 152 million euros.
Fashion houses like Cavalli, Armani, Fendi and Versace are leaders in home décor, with residential projects in luxury locations around the world. Cavalli will completely furnish 247 apartments in the Waterbay luxury high-rise by the Bin Faqeeh Real Estate Investment Company. The waterfront units go on sale in January, ranging in price from up to 2.2 million euros.
Source: The Associated Press