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Italian fashion houses Prada and Zegna have each acquired a 15% minority stake in their compatriot, knitwear company Fedeli.
Prada and Ermenegildo Zegna announced on Tuesday that they had acquired a minority stake in transalpine knitter Luigi Fedeli e Figlio, more commonly known as Fedeli. This acquisition underlines the importance of high-quality knitwear in the luxury sector.
Each luxury fashion group will acquire a 15% stake in the company, while Luigi Fedeli, currently Managing Director, will retain a 70% majority stake and remain in his current role. No further details of the transaction have been disclosed.
“This agreement represents a strategic investment to preserve the know-how and tradition of Italian excellence in fine yarns”, said Patrizio Bertelli, Chairman of the Prada Group, in a statement.
Know-how
In a joint statement, the companies announced that Gildo Zegna, CEO of the Zegna Group, and Patrizio Bertelli would be appointed to Fedeli’s Board of Directors.
Italy is renowned for its rich heritage of craftsmanship, and is home to many small manufacturers who dominate global production of luxury clothing and leather goods.
Founded in 1934 in Monza, Italy, Fedeli has been run by the Fedeli family for three generations. The brand is famous for its high-quality knitwear and yarns.
Read also >OTB fashion group acquires Italian leather goods manufacturer Frassineti
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Italian fashion houses Prada and Zegna have each acquired a 15% minority stake in their compatriot, knitwear company Fedeli.
Prada and Ermenegildo Zegna announced on Tuesday that they had acquired a minority stake in transalpine knitter Luigi Fedeli e Figlio, more commonly known as Fedeli. This acquisition underlines the importance of high-quality knitwear in the luxury sector.
Each luxury fashion group will acquire a 15% stake in the company, while Luigi Fedeli, currently Managing Director, will retain a 70% majority stake and remain in his current role. No further details of the transaction have been disclosed.
“This agreement represents a strategic investment to preserve the know-how and tradition of Italian excellence in fine yarns”, said Patrizio Bertelli, Chairman of the Prada Group, in a statement.
Know-how
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Italian fashion houses Prada and Zegna have each acquired a 15% minority stake in their compatriot, knitwear company Fedeli.
Prada and Ermenegildo Zegna announced on Tuesday that they had acquired a minority stake in transalpine knitter Luigi Fedeli e Figlio, more commonly known as Fedeli. This acquisition underlines the importance of high-quality knitwear in the luxury sector.
Each luxury fashion group will acquire a 15% stake in the company, while Luigi Fedeli, currently Managing Director, will retain a 70% majority stake and remain in his current role. No further details of the transaction have been disclosed.
“This agreement represents a strategic investment to preserve the know-how and tradition of Italian excellence in fine yarns”, said Patrizio Bertelli, Chairman of the Prada Group, in a statement.
Know-how
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