Latest news with #ErmenegildoZegna
Fashion United
15 hours ago
- Business
- Fashion United
Singapore's Temasek fund acquires 10 percent of Ermenegildo Zegna Group
A few hours before announcing its results for the first half of 2025, Ermenegildo Zegna Group announced that the Asian fund Temasek Holdings (through its subsidiary Venezio Investments Pte. Ltd) is acquiring a 10 percent stake in the fashion house. In a statement, Ermenegildo Zegna Group and Temasek explained that they have signed a share and investor rights purchase agreement. Under this agreement, the Italian group will sell 14.1 million of its own shares to the Singapore-based investment company at a price of 8.95 dollars per share. International growth partnership for the New York-listed company founded by Ermenegildo Zegna Upon closing of the transaction, Temasek will hold a total of 26.8 million shares. This represents 10 percent of Ermenegildo Zegna Group's outstanding ordinary shares. Temasek previously acquired 12.7 million shares on the market. Upon completion of the purchase, Ermenegildo Zegna Group will receive 126.4 million dollars in cash. Nagi Hamiyeh, Temasek's head of EMEA, is expected to join the group's board of directors in June 2026. The transaction is expected to close by tomorrow, 30 July. The partnership aims to support the international growth of the company founded by Ermenegildo Zegna. The management explained that the transaction 'will strengthen the group's balance sheet at a time when the management is well positioned to capitalise on the strong momentum of its brands. The increased financial flexibility will allow the group to carefully seize select opportunities to accelerate the organic growth of the current brand portfolio. Temasek's extensive experience in the luxury sector and deep knowledge of the Asian market will contribute to Ermenegildo Zegna Group's growth prospects. This will support expansion in key geographies where the group's presence is still underdeveloped.' 'I am delighted to welcome Temasek as a strategic investor in our group's shareholding base,' said Ermenegildo 'Gildo' Zegna, chairman and CEO of Ermenegildo Zegna Group, in the statement. 'Their investment represents strong support for our vision and long-term growth potential, while recognising the global importance of the Italian luxury sector. With Temasek's partnership, we are even better positioned to help strengthen our organic expansion globally and to consolidate our unique role as custodians of authentic brands.' 'The investment in Zegna underscores our ongoing commitment to supporting leading European companies with solid expertise and global potential,' added Hamiyeh in the statement. 'We look forward to being a careful, long-term partner for the Zegna family and the management team, enabling them to implement their growth strategy and supporting their vision to elevate their iconic brands and global presence.' Temasek is a global investment company headquartered in Singapore with a net portfolio value of 434 billion Singapore dollars (299 billion euros) as of 31 March 2025. Ermenegildo Zegna Group was assisted by UBS AG and Sullivan & Cromwell LLP as financial and legal advisors, respectively. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Fashion Network
20 hours ago
- Business
- Fashion Network
Temasek acquires 10% stake in Italy's Zegna Group for $220 million
Home › News › Business Download Print Singapore's state-owned investment firm Temasek Holdings is acquiring a 10% stake in Italian luxury fashion house Ermenegildo Zegna Group, in a transaction valued at approximately $220 million. Zegna - Spring-Summer2026 - Menswear - - Dubai - ©Launchmetrics/spotlight Under the agreement, Zegna will sell 14.1 million of its own shares to Temasek at $8.95 per share, totaling $126.4 million. This follows Temasek's earlier purchase of 12.7 million shares on the open market. Upon completion of the transaction, Temasek will hold a total of 26.8 million shares, representing 10% of the company's outstanding ordinary shares. The deal marks a significant step in Zegna's ongoing evolution from a family-run menswear label into a modern high-end leisurewear brand. Founded in 1910 as a woolen mill in northern Italy, Zegna has grown into a global luxury group with a strong focus on craftsmanship and innovation. With the new investment, Zegna aims to accelerate its international expansion strategy, open new retail locations, and renovate existing stores to enhance customer experience.'The transaction confirms the strength of Ermenegildo Zegna Group's vision and reinforces its financial flexibility to serve the further organic growth of its brands,' the company said in a Hamiyeh, head of Europe, the Middle East and Africa at Temasek, will join Zegna's board of directors as a non-executive member following the next shareholders' meeting.'We are delighted to welcome Temasek as a strategic investor in our group,' said Ermenegildo Zegna, chairman and CEO of the namesake brand. 'This partnership allows us to further strengthen our international expansion and consolidate our position as custodians of authentic brands.'Nagi Hamiyeh added: 'Our investment underscores Temasek's ongoing commitment to supporting leading European companies with solid performance and global potential. We are excited to become a caring and long-term partner for the Zegna family and management team.' with Bloomberg & Ansa This article is an automatic translation. Click here to read the original article. Copyright Bloomberg Tags : Luxury Luxury Business
Fashion Network
21 hours ago
- Business
- Fashion Network
Temasek acquires 10% stake in Italy's Zegna Group for $220 million
Singapore's state-owned investment firm Temasek Holdings is acquiring a 10% stake in Italian luxury fashion house Ermenegildo Zegna Group, in a transaction valued at approximately $220 million. See catwalk Under the agreement, Zegna will sell 14.1 million of its own shares to Temasek at $8.95 per share, totaling $126.4 million. This follows Temasek's earlier purchase of 12.7 million shares on the open market. Upon completion of the transaction, Temasek will hold a total of 26.8 million shares, representing 10% of the company's outstanding ordinary shares. The deal marks a significant step in Zegna's ongoing evolution from a family-run menswear label into a modern high-end leisurewear brand. Founded in 1910 as a woolen mill in northern Italy, Zegna has grown into a global luxury group with a strong focus on craftsmanship and innovation. With the new investment, Zegna aims to accelerate its international expansion strategy, open new retail locations, and renovate existing stores to enhance customer experience. 'The transaction confirms the strength of Ermenegildo Zegna Group's vision and reinforces its financial flexibility to serve the further organic growth of its brands,' the company said in a statement. Nagi Hamiyeh, head of Europe, the Middle East and Africa at Temasek, will join Zegna's board of directors as a non-executive member following the next shareholders' meeting. 'We are delighted to welcome Temasek as a strategic investor in our group,' said Ermenegildo Zegna, chairman and CEO of the namesake brand. 'This partnership allows us to further strengthen our international expansion and consolidate our position as custodians of authentic brands.' Nagi Hamiyeh added: 'Our investment underscores Temasek's ongoing commitment to supporting leading European companies with solid performance and global potential. We are excited to become a caring and long-term partner for the Zegna family and management team.'
Fashion Network
21 hours ago
- Business
- Fashion Network
Temasek acquires 10% stake in Italy's Zegna Group for $220 million
Singapore's state-owned investment firm Temasek Holdings is acquiring a 10% stake in Italian luxury fashion house Ermenegildo Zegna Group, in a transaction valued at approximately $220 million. See catwalk Under the agreement, Zegna will sell 14.1 million of its own shares to Temasek at $8.95 per share, totaling $126.4 million. This follows Temasek's earlier purchase of 12.7 million shares on the open market. Upon completion of the transaction, Temasek will hold a total of 26.8 million shares, representing 10% of the company's outstanding ordinary shares. The deal marks a significant step in Zegna's ongoing evolution from a family-run menswear label into a modern high-end leisurewear brand. Founded in 1910 as a woolen mill in northern Italy, Zegna has grown into a global luxury group with a strong focus on craftsmanship and innovation. With the new investment, Zegna aims to accelerate its international expansion strategy, open new retail locations, and renovate existing stores to enhance customer experience. 'The transaction confirms the strength of Ermenegildo Zegna Group's vision and reinforces its financial flexibility to serve the further organic growth of its brands,' the company said in a statement. Nagi Hamiyeh, head of Europe, the Middle East and Africa at Temasek, will join Zegna's board of directors as a non-executive member following the next shareholders' meeting. 'We are delighted to welcome Temasek as a strategic investor in our group,' said Ermenegildo Zegna, chairman and CEO of the namesake brand. 'This partnership allows us to further strengthen our international expansion and consolidate our position as custodians of authentic brands.' Nagi Hamiyeh added: 'Our investment underscores Temasek's ongoing commitment to supporting leading European companies with solid performance and global potential. We are excited to become a caring and long-term partner for the Zegna family and management team.'
Business Times
21 hours ago
- Business
- Business Times
Temasek to buy 5% stake in Ermenegildo Zegna
[SINGAPORE] Temasek has signed a share-purchase agreement with Ermenegildo Zegna to purchase a 5 per cent stake in the Italian luxury group at US$8.90 a share, for a total of US$126.4 million on Tuesday (Jul 29). The shares will come from Temasek's treasury shares, and, combined with its share purchases on the open market, will bring the Singapore investment company's stake to 10 per cent after the transaction is completed on Jul 30. The cash consideration will add to Ermenegildo Zegna's balance sheet and enable the company to seize selected opportunities for organic growth of its brand portfolio. Ermenegildo 'Gildo' Zegna, chairman and chief executive officer of the group, said: 'This investment is a strong endorsement of our vision and long-term growth potential, while firmly recognising the global significance of the Italian luxury sector.' Nagi Hamiyeh, head of Europe, Middle East and Africa for Temasek, is expected to join Ermenegildo Zegna's board of directors in June 2026. The company's customer base comprises high-net-worth individuals (HNWI) who have been more resilient in their spending. A BCG report noted that this segment spends more than 50,000 euros (S$74,380) a year on luxury brands; the wealthiest top-tier clients comprise just 1 per cent of the personal luxury goods market, but generate 22 per cent of the value. Aspiration consumers, which make up 60 per cent of the market, have faltered in recent years, but the big spenders have consistently grown their expenditure. The segment is set to grow from about 940,000 HNWIs, holding about 68 trillion euros in wealth in 2024, to about 1.4 million HNWIs in 2030, with about 100 trillion euros in wealth. This group is also growing in confidence. Half of them say they expect to increase spending by between 5 and 25 per cent over the next 18 months. Temasek will bring its experience in the luxury sector and knowledge of the Asian market to Ermenegildo Zegna under this deal. The investor will also support expansion in key geographies where the company's presence is underdeveloped. Hamiyeh added: 'Our investment in them underscores our ongoing commitment to support leading European businesses with strong track records and global potential.'
