Zegna acquires stake in Brunello Cucinelli

Italian family owns menswear house Ermenegildo Zegna confirmed this week the acquisition of a 3% stake in Italian house Brunello Cucinelli, known as a specialist in cashmere. Brunello Cucinelli made its IPO debut on Milan’s stock exchange this week. Gildo Zegna, President and CEO of Ermenegildo Zegna indicated that the purchase was a strategic one, given the already well established relationship with Brunello Cucinelli and the perspectives of expanding further business opportunity and promoting Made in Italy.