British Vogue published the following at 3.54pm today:
Roberto Cavalli at the launch of his new wine range in May
HE might have put his fashion label up for sale back in April but it looks like fashion designer Roberto Cavalli has now changed his mind.
According to WWD, Cavalli told Il Sole 24 Ore, an Italian financial daily that, due to market conditions and lower than expected valuations of his business, he wouldn't consider selling before 2009.
"I'm not selling the company. The timing is not ripe yet for such a step. What's more, as I have already said a thousand times, we don't need [to sell]," he reportedly said in the interview.
"A year ago, [the banks] spoke to me about certain numbers, which today have vanished with the stock market crisis. I'm not selling for 800-900 million [euros]," - the company was apparently valued at 1.4 billion euros in 2007.
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