It is official! One of my favorite designers, Roberto Cavalli, is selling a stake in his company. Earlier this week, he signed a letter of intent to sell a 30 percent stake in his company to Clessidra. Clessidra which means hourglass in Italian is a private equity firm with stakes in transportation and telecommunications companies.
Although this letter is not a contract it is, just as good as one. Once they are able to determine what 30 percent of the 426.4 million+ dollar company is worth, it will be a done deal.
They plan to finalize this deal by the end of this month so stay tuned to find out how much my pal Roberto will be taking to the bank! 
I cannot help but think that this might be yet another sign of the times. What do you think? Could this be the beginning of the end?
