Roberto Cavalli to hit break even in 2024

Italian fashion group Roberto Cavalli will return to profit next year, its chief executive Sergio Azzolari said in an interview published on Friday.

“The operational break even will arrive by 2024 with the first profits,” he told newspaper MF.
Azzolari, who has been in the job since April, said he expected revenues of around 120 million euros ($131.78 million) in 2023, up from 87 million euros last year, and that he aimed for the company to grow in size and reach 400-500 million euros in sales.

The executive said there were no plans for Florence-based Cavalli – owned by Dubai’s Damac Properties founder Hussain Sajwani, who rescued it in 2019 – to seek new shareholders or open new credit lines.