Ermenegildo Zegna, the renowned Italian textile producer and luxury menswear label, made a major announcement ahead of the Milano Unica textile show in Milan. The company has recently acquired a majority stake of 65% in Dondi, a prestigious Italian knitwear manufacturer known for its top-notch, exclusively made-in-Italy knitwear for both men and women. While the financial details of the transaction have not been disclosed, the move signifies a significant step for both companies in the world of high-end fashion.
Located in Fossoli, close to the Carpi textile hub in central Italy, Dondi has built a reputation as a leader in Italian knitwear production with a vertically integrated manufacturing process from textile design to product distribution. With an impressive track record spanning over four decades, Dondi has become a trusted partner for luxury fashion brands and designers, including the Zegna group, operating both locally and internationally in key markets such as the USA, France, Germany, Japan, South Korea, the UK, Turkey, and several emerging markets.
Originally established in the 1970s by Edda and Lauro Dondi, visionary entrepreneurs with a passion for the art of knitwear, the company evolved into Gruppo Dondi in the 1980s. Today, the reins of the business are held by their children Lorella, Guido Capelli, and Stefano Dondi. The Dondi family views Ermenegildo Zegna as the perfect partner to continue their legacy and drive the business forward into the future, as indicated in a press release.
Under the terms of the partnership agreement, the Dondi-Capelli family will retain a 35% ownership stake in the company, maintaining control over creative and operational decisions. This model mirrors Zegna’s acquisition strategy with Bonotto in 2016, allowing the founding family to retain a minority share and strategic control over the company. These collaborative efforts empower Zegna to preserve Italian textile expertise and keep a firm grip on its supply chain.
Ermenegildo Zegna’s CEO emphasized that this investment is geared towards reinforcing the company’s control over its textile manufacturing process, characterized by a range of high-quality, exclusively made-in-Italy products. Over time, the Zegna group has expanded its portfolio with acquisitions like Tessitura di Novara, Lanerie Agnona, and the luxury ready-to-wear brand Thom Browne. With a reported revenue of €1.159 billion and a net profit of €34 million in 2018, showing a 4% increase from the previous year, Zegna’s strategic acquisitions continue to position it as a dominant force in the global luxury fashion industry.
The acquisition of Dondi underscores Zegna’s dedication to strengthening its textile supply chain, championing Italian craftsmanship, and extending its reach in the luxury fashion market. With a history of successful acquisitions and calculated investments, Zegna remains at the forefront as a key player in the ever-evolving landscape of high-end fashion.
To learn more about Ermenegildo Zegna and Dondi, visit their respective websites:
Ermenegildo Zegna and Dondi.
