Roberto Cavalli US collapses as Expected
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Italian fashion label Roberto Cavalli has shuttered its stores in the US and will liquidate its entire operations in the territory.
While the brand had recently sought to negotiate with creditors while buying to time to source new investment, it has now sent all staff home and will close all stores. Several key executives have resigned, and a spokesperson announced on Sunday that the group will file for liquidation bankruptcy.
The flamboyant fashion house has been inundated with difficulties since former Versace executive Gian Giacomo was appointed CEO in late 2015. The firm has struggled since to gain new investment and experienced a high turnover in its creative team.
The group’s online operations have been shut down until logistics are re-routed through Europe.
Questions & Answers
Q.What is the current status of Roberto Cavalli's physical operations in the US?
What is the current status of Roberto Cavalli's physical operations in the US?
Roberto Cavalli has closed all its stores in the US and will liquidate its entire operations there. All staff have been sent home following the decision to cease activities in the territory.
Q.Are Roberto Cavalli's online sales still available to US customers?
Are Roberto Cavalli's online sales still available to US customers?
No, the group’s online operations have been shut down for the time being. They will remain closed until logistics can be re-routed through Europe to support any potential future online presence.
Q.When did the company's financial difficulties reportedly begin?
When did the company's financial difficulties reportedly begin?
The firm has faced difficulties since late 2015, following the appointment of former Versace executive Gian Giacomo as CEO. It has struggled to gain new investment since that time.
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