Heir to Prada's billionaire owning family signals openness to acquisitions as luxury dynasties look to the future [Fortune]
Ermenegildo Zegna N.V. (ZGN)
Company Research
Source: Fortune
The world's largest, LVMH, is still controlled by chairman and CEO Bernard Arnault. Four of his five kids have seats on LVMH's board and are all in the running to take over once he eventually steps down. Last month, Giorgio Armani, the famous Italian designer behind his eponymous brand, raised eyebrows when he said he hadn't ruled out the idea of eventually selling the business. Now, another luxury company's heir has weighed in on the subject, saying he'd consider making acquisitions for his 110-year-old brand. “We have been and will always be open to considering opportunities,” Lorenzo Bertelli, Prada's head of social responsibility and heir of its billionaire controlling family, told Bloomberg Bertelli was responding to questions regarding Armani's future, which he declined to comment on. However, it's telling that he's now discussing the possibility of growing Prada's stable of brands, which includes Miu Miu and Church's, when only three years ago he fended off suggestions
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News
- Prada CEO rules out big acquisitions: ‘Our homework today is to nurture our brands. I have no news for you' [Fortune]Fortune
- Prada CEO Not Eyeing Big Acquisitions as Brand Focus Is Priority [BNN Bloomberg (Canada)]BNN Bloomberg
- Heir to Prada's billionaire owning family signals openness to acquisitions as luxury dynasties look to the future [Yahoo! Finance]Yahoo! Finance
- Revenues at Zegna drop 5% in Q1, dragged by Thom Browne brand [Reuters]Reuters
- Ermenegildo Zegna Group Reported Q1 2024 Revenues of €463 Million1, up 8%2 YoY, Driven by Zegna Brand and the Integration of Tom Ford Fashion [Yahoo! Finance]Yahoo! Finance
ZGN
Sec Filings
- 5/8/24 - Form 144
- 5/8/24 - Form 144
- 5/8/24 - Form 144
- ZGN's page on the SEC website