Prada Group and Ermenegildo Zegna Group have decided to join forces in the defense and promotion of “Made in Italy” by forming an alliance and agreeing to acquire a stake in Italian company Luigi Fedeli e Figlio.
Luigi Fedeli e Figlio is a company specializing in the production of yarns and knitwear in Italy, and it is also the parent company of Fedeli, their own eponymous fashion brand.
According to the information revealed, both Prada and Zegna have agreed, in collaboration with the Fedeli family, to acquire a minority stake in the Italian knitwear company Luigi Fedeli e Figlio, representing 15% of its share capital, respectively. The remaining 70% of the capital will remain in the hands of Luigi Fedeli.
They have also agreed that Fedeli will continue in his current role leading the company, with the support and collaboration of Gildo Zegna, Chairman and CEO of Ermenegildo Zegna Group, and Patrizio Bertelli, Chairman and CEO of Prada Group.
“This agreement for the acquisition of a stake in Fedeli by Prada Group represents a strategic investment to preserve the know-how and tradition of Italian excellence in yarn production,” highlights Patrizio Bertelli. “Once again, following the acquisition of Filati Biagioli, together with Zegna Group, we are committed to a cooperative and teamwork approach to the fashion industry and ‘Made in Italy’,” he adds.
“Over the years, the acquisition of historic Italian companies has allowed the Group to build a platform of luxury textile companies that ensure the highest quality and safeguard the uniqueness of Italian craftsmanship,” notes Gildo Zegna. “Fedeli’s focus on quality and sustainability has brought us together,” and “in addition to adding another excellent craftsman to our textile supply chain, this acquisition is particularly special as it underlines our commitment to contribute to the growth of Fedeli and preserve and enhance the craftsmanship of ‘Made in Italy’,” Zegna adds.
This is not the first time that Prada and Zegna have joined forces to defend “Made in Italy”. In 2021, they agreed to acquire a majority stake in Filati Biagioli Modesto, ensuring the continuity of the company’s operations and preserving the tradition and artisanal value associated with their production methods, which are synonymous with the finest craftsmanship linked to the concept of “Made in Italy”.
