New acquisition for the Zegna Group, shortly after the grand debut on the New York Stock Exchange. Together with the Prada Group, the Biella-based company has acquired the majority stake in Filati Biagioli Modesto Spa, a company from Montale (Pistoia), which has been an excellence in the production of cashmere and noble yarns for over a century and in the care of the fiber transformation process. in yarns. The agreement, they write in a note, provides that both the Prada Group and the Zegna Group will be assigned a shareholding of 40% while the Biagioli family will hold 15% of the company and the remaining 5% will be owned by Renato Cotto. Biella manager with a long career in the world of yarns, who will take on the role of CEO. Gildo Zegna will be appointed president, while Franca Biagioli and Patrizio Bertelli, CEO of Prada, will join the board of directors.
Patrizio Bertelli declared: «This acquisition is part of the philosophy that Prada has always pursued: direct control of the entire supply chain to guarantee uncompromising quality in every single phase of the production process. It represents a further strategic investment that allows to preserve the know-how and the centenary tradition of Italian excellence in the production of fine yarns and the synergistic approach between two groups, in the much desired goal of “creating a system” in the fashion industry Italian and made in Italy ». Gildo Zegna declared: “The acquisition of historic Italian companies, each specialized in its own sector, has allowed Zegna over the years to set up a true luxury textile laboratory with the aim of producing fabrics of the highest quality and at the same time safeguarding the uniqueness of the Italian supply chain. This new acquisition today makes me particularly proud because in addition to adding another prestigious reality in noble yarns to our textile division, I am supported in this path by a great entrepreneur in the Italian fashion industry “.