Despite Roberto Cavalli publicly stating his disapproval about some of what Ittierre SpA – the company that Cavalli licensed his secondary line out to – has been doing, the Italian designer still signed a new five-year license with Ittierre SpA for his Just Cavalli label.
This is a remarkable change in attitude given that just a few months ago Cavalli blamed Ittierre for the last minute cancellation of the Fall/Winter 2009 Just Cavalli show, and subsequently cited low production standards, long delays, and unpaid royalties in excess of $25 million as reasons for looking for another partner.
In response, Ittierre threaten the designer with a lawsuit. Further, Ittierre filed for bankruptcy protection in February after running out of cash. However, given that Cavalli generates the most revenue for Ittierre (whose other licenses include C’N’C Costume National, Galliano, VJC Versace and Versace Sport), this deal will hopefully turn things around for the Italian-based company.
This deal includes production and distribution for Just Cavalli men’s and women’s apparel, shoes, and accessories, and includes a worldwide marketing and communications plan. The contract is slated to run through the Fall/Winter 2014 collections and cancels outstanding financial obligations tied to their previous agreement.
A return to the runway for Just Cavalli is expected for Spring/Summer 2010. Further, WWD is reporting that the deal with Ittierre is expected to strengthen Cavalli’s position in negotiations with Clessidra SGR SpA, with whom Cavalli is in talks with to sell 20 percent of his brand.
Ittierre’s administrators, Andrea Ciccoli, Stanislao Chimenti, and Roberto Spada, told WWD that the agreement with Cavalli confirms Ittierre’s great international value and operational capability. They said that they’re very pleased to be able to renew the partnership with a brand of such enormous global renown, great commercial success, and development potential as Just Cavalli.
Images courtesy of the Fashion Spot forums.