Zegna family increases stake in luxury fashion group Ermenegildo Zegna

Monterubello, the holding company of the Zegna family, is increasing its stake in luxury fashion company Ermenegildo Zegna Group, the parent company of the brands Thom Browne, Tom Ford Fashion and Zegna, the news website Reuters reported.

The Monterubello firm, owned by the Zegna family, bought 913,000 shares of Zegna on November 11, representing 0.36 percent of the company. Monterubello already owns 60 percent of Zegna and now wants to buy an additional two million shares, which is 0.79 percent of the company.

Gildo Zegna, CEO and chairman of Monterubello, underlined: "We see this as a strong investment." The family, Reuters reported, believes that the current market value of the group does not reflect its full potential. The market capitalisation of Ermenegildo Zegna currently stands at around 1.7 billion euros.