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Why Ermenegildo Zegna Is Going Public

The Italian menswear brand is raising $880 million by merging with a New York-listed SPAC. The funds will give the luxury firm greater financial firepower to help it bounce back from a bruising pandemic year and fend off competitors.
Sales at Italian fashion company Zegna rose by 27 percent to €1.29 billion ($1.45 billion) last year.
Ermenegildo Zegna is set to go public by combining with a New York-listed special purpose acquisition company (SPAC) in a deal that values the Italian luxury company at $3.2 billion. Courtesy. (Zegna)
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Ermenegildo Zegna is going public by merging with a New York-listed special purpose acquisition company (SPAC) in a transaction that gives the Italian luxury firm an enterprise value of $3.2 billion. Zegna is set to raise $880 million through the deal, while its founding family will remain controlling shareholders with a 62 percent stake in the combined entity.

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About the author
Robert Williams
Robert Williams

Robert Williams is Luxury Editor at The Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.

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