New owner for Roberto Cavalli. The investment company of the president of Damac, Hussain Sajwani, ranking 962 in the Forbes Billionaires 2019 and considered one of the richest men in the UAE, has completed the acquisition of the Italian fashion group. The transaction concerns all the shares of Roberto Cavalli Spa previuosly (with over 90%) of Clessidra fund. The acquisition took place through the private investment Vision Investments fund, part of Dico Group. Roberto Cavalli signed in 2017 a collaboration with Hussain Sajwani’s group for the development of interior design of the first Aykon Hotel on the Dubai Marina.Founded in 1992, Dico is Hussain Sajwani’s investment arm and Cavalli is the first operation into the fashion world. Dico has diversified interests all over the world, it expects to invest 3 billion dollars over the next few years in key markets such as Europe and the US. Hussain Sajwani won the race to buy the brand, sowing other competitors, including Renzo Rosso’s OTB and the American Bluestar Alliance. Clessidra fund put Cavalli for sale after various attempts to raise. The fashion house is back from a plan to rationalize, with cuts in style, marketing and the sales network.