Russian businessman of Armenian descent, owner of Tashir group Samvel Karapetyan intends to purchase Italian Roberto Cavalli fashion house, Euromag.ru reports.

Several years ago Tashir has launched a project called Casa Italia aiming to place famous Italian boutiques in Moscow near the Red Square and the Kremlin.

Experts consider the deal is worth at least 500 million euro, while Roberto Cavalli himself said his business is estimated at over 1 billion euro, LifeNews reports.