Zegna Goes Public On New York Stock Exchange
The luxury fashion brand is the first Italian fashion company to be listed on the New York Stock Exchange.
The post Zegna Goes Public On New York Stock Exchange appeared first on LUXUO.
Image: Zegna
Earlier on Monday, December 20, Zegna made its debut on the New York Stock Exchange and became the first Italian luxury fashion brand to be listed on the world?s largest equities-based exchange platform. Shares started trading under the ZGN ticker at US$10.30 before reaching a high of US$11.32 and closed at US$10.74 ? a 4.2 per cent jump from the initial share price.
The momentous day saw the Milan-based brand being valued at around US$3.1 billion as it went public through a SPAC created by Investindustrial and is led by Sergio Ermotti. The IPO helped Zegna raise US$761 million. According to Business of Fashion, the brand has revealed that it will use the funds to ?build up its brick-and-mortar footprint and expand beyond its staple suits?.
View this post on Instagram A post shared by ZEGNA (@zegnaofficial)
READ MORE: Ermenegildo Zegna Group To Go Public in SPAC Deal Worth US$3.2 Billion
The Zegna family will its stewardship of the 111-year-old family business with its 66 per cent stake. Gildo Zegna leads the brand as its chief executive and Alessandro Sartori continues to be the artistic director of the menswear luxury brand. Prior to the listing, Zegna has unveiled its new branding direction and has since made several moves.
“Today ma...
The post Zegna Goes Public On New York Stock Exchange appeared first on LUXUO.
Image: Zegna
Earlier on Monday, December 20, Zegna made its debut on the New York Stock Exchange and became the first Italian luxury fashion brand to be listed on the world?s largest equities-based exchange platform. Shares started trading under the ZGN ticker at US$10.30 before reaching a high of US$11.32 and closed at US$10.74 ? a 4.2 per cent jump from the initial share price.
The momentous day saw the Milan-based brand being valued at around US$3.1 billion as it went public through a SPAC created by Investindustrial and is led by Sergio Ermotti. The IPO helped Zegna raise US$761 million. According to Business of Fashion, the brand has revealed that it will use the funds to ?build up its brick-and-mortar footprint and expand beyond its staple suits?.
View this post on Instagram A post shared by ZEGNA (@zegnaofficial)
READ MORE: Ermenegildo Zegna Group To Go Public in SPAC Deal Worth US$3.2 Billion
The Zegna family will its stewardship of the 111-year-old family business with its 66 per cent stake. Gildo Zegna leads the brand as its chief executive and Alessandro Sartori continues to be the artistic director of the menswear luxury brand. Prior to the listing, Zegna has unveiled its new branding direction and has since made several moves.
“Today ma...
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