WHAT!? You read that right, fashion brand, Roberto Cavalli is up for sale, with five different offers put forward, and according to sources, Dubai property developer, DAMAC is reported to be in the top spot.
DAMAC is currently a partner with the brand for property development, with the ‘Just Cavalli Villas’ located in the Dubailand community.
The Italian fashion group has been struggling financially, and taken the five offers to the board in a meeting on Wednesday to examine the bids but the official decision will be the bankruptcy court's.
The brand closed all its stores in the United States earlier this year to reduce costs and fight the bankruptcy.
No official statement has been issued yet.