The two companies said in a joint press release that the CEO of the Zegna Group, Guild Zegna, has been appointed chairman and the CEOs of the Prada Group Patrizio Bertelli and Franca Biagioli will join the board of directors of the Filatibia Ziolimodest.
For over a century, Filati Biagioli Modesto has been an excellent producer of cashmere and other noble yarns, providing products with excellent fiber conversion processes.
Bertelli said: “This acquisition is in line with the philosophy that the Prada Group has always pursued: direct control of the entire supply chain to ensure uncompromising quality at all stages of the production process.
“This represents Italy’s know-how of excellence in the production of fine yarns and further strategic investments that make it possible to maintain the tradition of 100 years ago. It also represents the Italian fashion industry and the Italian manufacturing industry. It demonstrates the cooperative attitude between the two Italian groups, which is part of the long-awaited goal of the teamwork approach in. “
Fiber2Fashion News Desk (KD)
Italian fashion companies Prada Group and Zegna Zegna Group have announced that they will jointly acquire a majority stake in Italian worststed yarn manufacturer Filativia Diolimodest. Both fashion houses will be allotted a 40% stake. The Biagioli family owns 15% and 5% will be allocated to the future CEO of the company Renato Cotto.
Italian fashion houses Prada and Zegna acquire Fila Tibia Geolimodest
Source link Italian fashion houses Prada and Zegna acquire Fila Tibia Geolimodest