Roberto Cavalli CEO forecasts brand to breakeven by 2024

The chief executive officer of Roberto Cavalli, Sergio Azzolari, has said that he expects the luxury brand to breakeven by the end of next year as it continues ambitious expansion plans.

Azzolari took over the helm of the company in April, with Hussain Sajwani, the owner of Roberto Cavalli’s parent company Vision Investment Co, stating at the time that the fashion house would lean into the exec’s transformation experience to put the company in a “good position”.

In his latest interview with Italian media outlet MFF, Azzolari said: “The breakeven point is expected to be reached by 2024, with the first profits.”

He added that while in 2023 the brand is expected to reach 120 million euros, “a significant increase from the 87 million generated in 2022”, but it was actively working towards the range of 400 to 500 million euros.

Azzolari further detailed plans to expand the brand through accessories, footwear and daywear, while maintaining the womenswear business, as well as dropping a new line of fragrances set to be unveiled in 2025 alongside partner InterParfums.

In addition to this, Roberto Cavalli is also planning to debut into the hotel industry, with two locations currently under assessment, is prepping a Paris flagship and is mulling a revamp or relocation of its Milan store.

The brand has been struggling in recent years after its extravagant flair fell out of favour with Western consumers, seeing a string of short-term creative directors come-and-go before Fausto Puglisi stepped in during 2020, ultimately leading the label to a renewed success.