Ermenegildo Zegna Group takes a stake in shoe manufacturer Norda Run

The Italian fashion group Ermenegildo Zegna NV is investing in the high-growth luxury outdoor segment. On Wednesday, the parent company of brands Zegna and Thom Browne announced that it will acquire a minority stake in Canadian running shoe specialist Norda Run.

A corresponding agreement was signed on January 23, the group explained in its current interim report. It includes the option to gradually expand the stake over the next nine years. The luxury outdoor area is still the focus of the group of companies, it was said in justification. Due to the high quality standards, Norda Run also “fits perfectly with Zegna’s values”.

The acquisition of the minority stake now offers “the opportunity to further accelerate the growth of the brand through a strong industrial and commercial partnership,” emphasized the Italian group.