Covid has forced the Italian luxury industry to step up the pace of its transformation and search for investors, as shown by Zegna announcing a forthcoming stock market listing, and L Catterton’s acquisition of Etro.
Just a day after news that L Catterton will take a stake in Etro, Ermenegildo Zegna said it will list its shares in New York and is combining with Investindustrial Acquisition Corp, which will be a minority shareholder.
The Ermenegildo Zegna Group’s acquisition campaign continues. The high-end Italian apparel manufacturer and gentlemanly menswear brand has acquired control of Tessitura Ubertino, the top-shelf fabric maker.
Made in Italy Fund bought Italian high-end casual brand Dondup from L Catterton, a buyout firm founded by LVMH owner and French billionaire Bernard Arnault, the Italian private equity said on Thursday.
Milan Fashion Week, almost wholly digital, will run until March 1. Italy’s top labels will all take part, except Versace, alongside many debut names like Del Core, a new entry premiering with a real show.