Prada and Zegna take over 30% of the Luigi Fedeli knitwear factory
Il Prada group and the Ermenegildo group Zegna announce that they have reached an agreement for the acquisition of a minority stake in the Luigi Fedeli and Son, an Italian family business founded in 1934 in Monza, now in its third generation, and recognized worldwide as the excellence of Made in Italy knitwear in fine yarns. Through his eponymous brand marketed in 13 boutiques and over 400 multi-brand stores worldwide, Faithful is a consolidated presence in high-end knitwear.
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The agreement provides that al Prada group and al Ermenegildo Zegna group a 15% stake is assigned each. Luigi Fedeli will hold the remaining 70% of the company and will continue to exercise the role of Chairman and Chief Executive Officer.
Gildo ZegnaChairman and Chief Executive Officer of the Group Ermenegildo Zegnae Patrick BertelliPresident and Executive Director of Prada groupwill join the Board of Directors of the Luigi Fedeli and Son.
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