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Ermenegildo Zegna Goes Public With $3.2 Billion USD Valuation

2 monthes ago   |   By Hypebeast

Italian label Ermenegildo Zegna has announced plans to go public, working with a New York-based special purpose acquisition company on the deal. The deal values Zegna at $3.2 billion USD, and will see the label raise $880 million USD in funding while the founding Zegna family hold a 62% share in the company. The new funding will allow Zegna to rebound from the pandemic, after its revenues dropped by almost a quarter to $1.24 billion USD in 2020. Additionally, the label will look into the possibility of acquiring other labels, building on the strategy that saw it acquire a majority stake in...
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All the details about Ermenegildo Zegna's float on the NYSE

All the details about Ermenegildo Zegna's float on the NYSE

2 monthes ago   |   By Fashion United

Italian luxury fashion group Ermenegildo Zegna has entered into an agreement to become a public company by combining with a US special-purpose acquisition company launched by European private equity group Investindustrial and chaired by former UBS chief executive Sergio Ermotti.
This deal gives Zegna business an enterprise value of 3.2 billion dollars and puts an end to over 100 years of private ownership for the family business. They expect to raise about 880 million dollars and use the funds to reinforce Zegna's menswear business, both organically and inorganically.
“Today's announcement...
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