Roberto Cavalli CEO Gian Giacomo Ferraris will be stepping down from his role before the end of the year. In 2019, the Tuscan fashion house was acquired by the DICO group, owned by Emirati businessman Hussain Sajwani, who purchased the brand from Clessidra through private investment fund Vision Investments.
It was Ferraris himself who announced the news to the brand's employees in an internal communication where he said that he had "contrasting feelings," including "a certain satisfaction, but also a little sadness and some regrets."
"I have assured Mr. Sajwani that I will do everything that I can to guarantee continuity of management during a transition period and I would like to thank each one of you for your willingness to support me at the brand until the end of the year," he added.
Ferraris has led Roberto Cavalli since 2016 when he succeeded Renato Semerari in the role of CEO. In his new position, the former Versace CEO's mission was to get the brand's finances back on track and reposition it in the luxury segment after years of lackluster sales.
Ferraris' decision to leave the brand was expected, confirmed a Roberto Cavalli spokesperson to FashionNetwork.com, further explaining that the label's UAE-based parent company intends to take the historic Italian house in a new direction in order to successfully relaunch it.