NEWS

Milan, June 6^th, 2023 – Prada Group and Ermenegildo Zegna Group today announced that they have reached an agreement to acquire a minority stake in Luigi Fedeli e Figlio S.r.l. (“Fedeli”). Founded in 1934 in Monza, Italy, and now overseen by a third generation of the Fedeli family, Fedeli is recognized worldwide for the excellence of its Made in Italy knitwear and fine yarns. Through its eponymous brand, Fedeli is distributed in 13 mono-brand boutiques and over 400 multi-brand stores worldwide.

The agreement provides that Prada Group and Ermenegildo Zegna Group will each acquire a 15% stake. Luigi Fedeli, currently Chairman and CEO of Fedeli, will hold the remaining 70% of the company and will continue in his present roles. Gildo Zegna, Chairman and Chief Executive Officer of the Ermenegildo Zegna Group, and Patrizio Bertelli, Prada Group Chairman and Executive Director, will join Fedeli’s Board of Directors.

As it did in 2021 with the joint acquisition by Prada Group and Ermenegildo Zegna Group of a majority stake in Filati Biagioli Modesto S.p.A., assuring continuity, preserving know-how, and continuing to create value for ‘Made in Italy’ in the name of craftsmanship and innovation is the vision that unites Patrizio Bertelli and Gildo Zegna in this partnership.