The clothing design business was said to have approached Investcorp over a potential deal in May, but the firm was unwilling to meet its €450m price tag according to Reuters.
It cited two sources close to the deal, one of whom said the company’s lack of appeal had caused the price discrepancy.
Permira was said to have come close to buying a majority stake in Roberto Cavalli in February, which was believed to value the business at €450m, 13 times its EBITDA.
Reuters reported the Investcorp deal was only for 60 per cent of the company, which would value the whole business at 18 times its EBITDA.
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