Roberto Cavalli and crisis-hit fashion company Ittierre have announced a surprise extension to the licensing deal covering the Just Cavalli young men's wear and women's wear lines.

The global licensing agreement, which had been due to expire in 2010, has now been extended as far as the autumn/winter collection in 2014/2015, even though Ittierre and parent company IT Holding are currently in special administration after running short of funds.

Cavalli and Ittierre said the new deal terminated all previous agreements between Just Cavalli and IT Holding, and included the settlement of all claims and disputes related to it.

But the agreement will have to gain the approval of the authorities of the extraordinary administration procedure, appointed to control Ittierre.

In a joint statement, the authorities said of the agreement: "We feel enthusiastic about renewing this partnership with the internationally-known and commercially successful Just Cavalli brand, which we believe retains a high growth potential.

"In the current market situation, the positive energy and creativity of the designer and his house are distinctive assets which will be key in the future success of this partnership."

Cavalli himself said: "Just Cavalli? It was just running a temperature and was under the weather with a seasonal cold! Now it is very healthy and robust, and is ready to strike back at those who hoped for the worst!"