Prada CEO rules out big acquisitions: ‘Our homework today is to nurture our brands. I have no news for you' [Fortune]
Ermenegildo Zegna N.V. (ZGN)
Company Research
Source: Fortune
“Our homework today is to nurture our brands,” Guerra said at an event in Venice Monday. On the mergers and acquisitions front, “I have no news for you,” he said. Speculation has swirled throughout the fashion sector since design icon Giorgio Armani hinted recently at possible changes for his company once he's no longer in charge. Armani, who's nearing his 90th birthday, told Bloomberg last month that he wouldn't rule out a merger after he exits the scene. His comments have shaken the Italian luxury industry, where many companies are still independent and family-controlled, including Salvatore Ferragamo SpA, Moncler SpA and Ermenegildo Zegna NV. All of them lack the scale of powerful, acquisitive French rivals LVMH Moet Hennessy Louis Vuitton SE and Kering SA. Despite ruling out any major moves for his group in the short term, Guerra said he expects more M&A activity in the industry over the next few years. “In two, three, five years time a lot of things will happen, consolidat
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News
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- Ermenegildo Zegna Group Announces Publication of the Convocation Notice for Its 2024 Annual General Meeting [Yahoo! Finance]Yahoo! Finance
- Ermenegildo Zegna Group Announces Publication of the Convocation Notice for Its 2024 Annual General MeetingBusiness Wire
ZGN
Sec Filings
- 5/23/24 - Form SD
- 5/21/24 - Form 6-K
- 5/8/24 - Form 144
- ZGN's page on the SEC website