The international chain of Roberto Cavalli Cafe’s and Clubs is expanding thanks to a licensing agreement between Roberto Cavalli and Lebanese owned Pragma Group. Chairman of the Group, Joe Tabet, announced that is has signed 20 agreements, valued at $150 million. The Group is already the local partner of the Italian house for the Cavalli Club which has been operating since 2009 in Dubai. Currently, there is a Cavalli Club operating in Florence and a Just Cavalli Cafe in Milan.
As planned, by 2015, Pragma will be opening five Cavalli Clubs and 15 Cavalli Cafe’s in several key international locations. The first Cavalli Cafe’s are scheduled to be inagurated by 2012 in Beirut, Istanbul, Shanghai, Mumbai, and Sao Paolo. Once fully rolled out the value of the properties will be worth $300 million, of which approximetly $75 million will be provided by Pragma Group’s lifestyle fund, Laylak, whereas the rest will come from local investors.
– IndiaRetailing Bureau