The French luxury market has been dominated by two publicly traded Groups, LVMH and Kering for a while. And both acquired Italian brands.
The Italian market stayed more diversified with companies like Armani, Brunello Cucinelli, Dolce & Gabbana, Ferragamo, Kiton, Max Mara, Prada, Tod’s to name a few.
Now Ermenegildo Zegna Group is going public via SPAC. Over years Zegna developed from textile, to menswear, to women’s wear and licensor. It took a license from Maserati, and bought brands like Thom Browne.
The Marzotto Group took a similar path earlier. Originally a textile company too, at one point they owned Hugo Boss, Valentino, and were the licensee of Marlboro Classics.
Behind the SPAC is InvestIndustrial, a private equity company, with former and current interests in Aston Martin Lagonda, Ducati, Morgan Motor Company, B&B Italia, Jacuzzi.