Investcorp is not alone in the race to buy a majority stake in the capital of Roberto Cavalli fashion brand. After negotiations with Permira broke apart last month (see a previous post of BeBeez), both Qatar Holding and the Swiss high-end watch-maker Franck Muller together with coinvestors are said to be in talks with the Italian fashion stylist in order to buy a 60-70 pct stake.
Franck Muller uses to invest his own money through his family office Genthod Global Wealth Management, Muller, an old friend of Roberto Cavalli, realizes
Franck Muller has been working with Cavalli for years. The two signed a co-branding contract for the development, creation, production and distribution of “Roberto Cavalli by Franck Muller” watches for men and women.
Cavalli’s earnings before interest, taxes, depreciation and amortization were 22.4 million euros in 2013 on revenue of 201 million euros and negotiations with Permira were based on an enterprise value of 450 millions or 20x ebitda.