Italian fashion groups Ermenegildo Zegna NV and Prada SpA have announced their next joint investment in a local textile company. The two groups of companies have each acquired a 15 percent stake in Monza-based knitwear specialist Luigi Fedeli e Figlio Srl, according to a statement published on Tuesday. The remaining 70 percent will remain with Luigi Fedeli, the chairman and CEO of the family company.
Fedeli, who is the third generation to run the company, will keep his current position, according to a statement. However, following the completion of the transaction, which is subject to approval by the relevant competition authorities, Gildo Zegna, Chairman and CEO of the Ermenegildo Zegna Group, and Patrizio Bertelli, Chairman and Executive Director of the Prada Group, would join Fedeli’s Board of Directors.
For Zegna and Prada it is the second joint investment in an Italian textile company. In 2021, the two groups had already secured a majority stake in the yarn producer Filati Biagioli Modesto SpA. The aim of these investments is to strengthen their own supply chains, but also to preserve local textile production and the “Made in Italy” quality standards of craftsmanship, the two corporate groups explained.