Ermenegildo Zegna group announced their expectations for a public list – Footwear News

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Ermenegildo Zegna Group and Investindustrial Acquisition Corp., a special purpose acquisition company sponsored by investment subsidiaries of Investindustrial VII LP, said on Monday they had reached a definitive business deal that is expected to make Zegna a publicly traded company. the New York stock exchange. Exchange later this year.

“Over 111 years ago my grandfather and namesake founded Zegna with the belief that caring for both the natural environment and people was the foundation for creating the best textiles and from brand to brand. success, ”said Gildo Zegna, CEO. “Since then, we have proudly followed in his footsteps to become one of the true Italian luxury houses. Today’s announcement underscores the success of our strategy of continuously focusing on the group’s brand equity while continuing to build on our heritage, our ethic of sustainability and the unique know-how that has makes our name synonymous with quality and luxury around the world. The Zegna family will remain at the helm of the company after the transaction closes, and we will continue to invest in creativity, innovation, talent and technology to maintain Zegna’s leadership position in the global market. luxury.

Upon closing of the transaction, which is expected to take place in the fourth quarter of this year, the Zegna family will continue to control the company with an approximate 62% stake.

This story was reported by WWD and originally appeared on WWD.com. To read the full story, visit WWD.com.

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