Italian fashion house Roberto Cavalli has renewed its worldwide licensing agreement for its diffusion line Just Cavalli with the financially beleaguered manufacturing and licensing firm Ittierre.
The extended licensing agreement will last five years, up to and including the production and distribution of the autumn 14 Just Cavalli ranges of menswear, womenswear, handbags, footwear and accessories.
The renewed licensing deal will come as a surprise to the sector as Roberto Cavalli himself blamed Ittierre for him having to call off the Just Cavalli catwalk show in Milan last month. Ittierre was forced to file for bankruptcy protection in February
At that time, Roberto Cavalli accused delays and sub-standard production on top of €20 million (£18.1m) in outstanding royalties owed by Ittierre for the cancellation of the Just Cavalli show. There were also rumours that Roberto Cavalli had entered into talks with potential new licensing partners for the Just Cavalli range.
The agreement is subject to approval by the Italian courts.
Ittierre is a subsidiary of Italian-based company IT Holding.
Ittierre said: “The agreement with Cavalli confirms the great international value and potential of Ittierre. We are thrilled to have the possibility of renewing the collaboration with an extremely acknowledged brand, with great growth potential and commercial success, such as Cavalli: in difficult moments, as the one we are living now, there is a significant need for positive energy and creativity.”