It's official: Clessidra SGR is the new proud owner of Roberto Cavalli SpA. Following months of negotiations, the Italian private equity fund has acquired 90% of the Florence-based fashion empire. 

Renato Semerari will take position as the new CEO of Roberto Cavalli, whilst Francesco Trapani will lead as chairman of the Italian fashion house. 

Last month it was also confirmed that ex-Pucci designer Peter Dundas will act as the new creative director for Roberto Cavalli. 

"I am extremely satisfied to have signed this agreement with an Italian partner which, I am sure, will further develop what I have built in a lifetime" Roberto Cavalli revealed in a statement. "Clessidra will provide financial, managerial and human resources that will allow the company to grow further and face the challenges of the ever-evolving luxury market."

"We really wanted to reach this agreement as we strongly believe in the potential of Roberto Cavalli," said Trapani. "It is a company with a unique style, unparalleled market positioning and a truly global awareness. Cavalli's brand identity is an asset that we want to preserve, a key factor on which we will found all the company's plans for international growth."