What was Roberto Cavalli's Net Worth?
Roberto Cavalli, an illustrious Italian fashion designer, had a net worth of $500 million at the time of his death on April 12, 2024, at the age of 83. He was renowned for his exotic prints and for pioneering sand-blasted jeans, and he founded his own luxury fashion house, selling clothing, leather accessories, perfume, and jewelry. The company additionally developed interior design projects for high-end buildings and was acquired by Italian investment fund Clessidra SGR in 2015, with Gian Giacomo Ferraris stepping in as CEO.
Early Life and Career Beginnings
Born in 1940 in Florence, Tuscany, Italy, Roberto Cavalli was the grandson of Giuseppe Rossi, an artist and member of the Macchiaioli Movement of painters in the late 19th century. As a student, Cavalli attended the local Accademia di Belle Arti di Firenze, specializing in textile print. In the early 70s, he invented and patented a procedure for printing on leather, subsequently fashioning patchworks from different materials. He debuted these techniques in Paris, earning commissions from major designer brands such as Pierre Cardin and Hermès. At 32, Cavalli showcased his first namesake collection at Paris' Prêt-à-Porter Salon and later brought it to Palazzo Pitti's Sala Bianca catwalks in Florence. Notable creations included printed denim jeans featuring intarsia leathers and wild prints.
The Cavalli Brand
During the 1994 Milan Fashion Week, Cavalli introduced sand-blasted jeans and garments adorned with tiger and wildlife motifs. He also presented embroidered fur, printed clothing, and long gowns accentuating the body. That year, Cavalli opened boutiques in Saint Barth, Saint-Tropez, and Venice. He subsequently introduced new lines like Class Cavalli, Just Cavalli, and Angels & Devils, targeting children's wear. These lines offered a range of products from evening gowns to shoes, handbags, eyewear, underwear, jewelry, and perfume. By the end of 2001, the Cavalli brand was distributed in over 30 countries. The following year saw the launch of watch designs, a partnership with Sector, and the opening of Cavalli's first café-store in Florence. In 2007, Cavalli became the first Italian label to create a limited collection for H&M.
On its 40th anniversary in 2010, the Cavalli brand presented an exclusive runway collection in Paris. In 2014, Cavalli returned as the men's creative director, collaborating with Dutch designer Martyn Bal to release the fall collection of that year. Numerous top models, including Eva Riccobono, Natasha Poly, Karen Elson, Laetitia Casta, and Jessica Stam, have worked for Roberto Cavalli.
Change of Ownership
In 2015, Clessidra SGR, along with some minor partners, acquired a 90% stake in Roberto Cavalli. The next year, former Versace head Gian Giacomo Ferraris was appointed CEO, initiating a reorganization plan intended to revert the brand to its Tuscan origins. Consequently, the company's Milan headquarters were closed, and operations were relocated to the Osmannoro plant, reinstating in-house manufacturing. In 2017, Paul Surridge took on the role of creative director.
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Financial Struggles
In 2019, facing economic difficulties, Roberto Cavalli closed all its US stores and began preparing to liquidate its North American operations, resulting in the resignation of several corporate executives. In November 2019, Hussain Sajwani, president of DAMAC, acquired the company through Vision Investments. The brand continues to maintain stores in Europe, Asia, and the Middle East.
Criticisms
In 2004, Cavalli faced criticism from the Hindu community for launching a line of female underwear featuring images of Hindu goddesses, leading to the line's withdrawal and formal apologies. Later, the Maktab Tarighat Oveyssi Shahmaghsoudi school of Islamic Sufism accused Cavalli of copying their emblem. A European proceeding ruled there were no similarities.
Personal Life
Roberto Cavalli married Eva Düringer in 1980, whom he had met at the 1977 Miss Universe pageant. Cavalli has two children from his first marriage, Tommaso and Christiana, and three from his second, Robert, Sara, and Daniele. In 2013, Cavalli was awarded an Honorary Master Diploma in Fashion Management from Milan's Domus Academy.
Real Estate and Collections
For over 35 years, Cavalli and his wife resided in a lavish Florence estate that boasts a formal sitting room with marble floors, a fireplace, a glassed-in veranda, a rustic guest bedroom, an indoor swimming pool, and a stone steam room. The estate houses an extensive art collection, including Renaissance and contemporary pieces, and a building used as Cavalli's work studio. The residence also features pets such as dogs, birds, and tropical fish, and a large courtyard with panoramic Florentine hill views. Cavalli owned a 1970 Ferrari Daytona and a helicopter.
