Italian luxury fashion brands Prada and Ermenegildo Zegna have announced their acquisition of a minority stake in the renowned knitwear company Luigi Fedeli e Figlio. This strategic move highlights the increasing importance of high-quality knitwear in the luxury fashion segment. The deal will see Prada and Zegna each acquiring a 15% stake in Fedeli, while the current CEO, Luigi Fedeli, will retain a majority ownership of 70% and continue in his role.
The specific details of the transaction have not been disclosed, but this investment serves as a means to preserve the rich Italian tradition and craftsmanship associated with fine yarn. Italy has long been celebrated for its intricate craftsmanship and is home to numerous small manufacturers that dominate the global production of luxury clothing and leather goods.
Founded in 1934 in Monza, Italy, Fedeli has remained under the leadership of the Fedeli family for three generations. The brand has garnered recognition for its exceptional knitwear and use of premium yarns. This agreement between Prada, Zegna, and Fedeli exemplifies the acknowledgment of the brand’s expertise in the industry.
Patrizio Bertelli, Chairman of the Prada Group, emphasized that this partnership is a strategic investment aimed at preserving the know-how and tradition of Italian excellence in fine yarn. Prada and Zegna aspire to support and enhance the craftsmanship and expertise of Italian knitwear through this collaborative effort.
As part of this collaboration, Gildo Zegna, CEO of Zegna, and Patrizio Bertelli will join the board of Fedeli. Their extensive knowledge and guidance will contribute to the further growth and success of the brand.
This joint venture by Prada and Zegna underscores their dedication to investing in and promoting the continued excellence of Italian craftsmanship. It also highlights the significance of knitwear in the luxury fashion industry. As consumers increasingly value high-quality and sustainable fashion, knitwear has gained remarkable traction and become a focal point for luxury brands.
Overall, this partnership between Prada, Zegna, and Fedeli marks a significant stride in the preservation and promotion of Italian heritage and expertise in the luxury fashion industry. With the support of these esteemed fashion houses, Fedeli is poised for further growth and expansion while maintaining its commitment to producing exceptional knitwear and premium yarns.
Useful links:
1. Prada Official Website
2. Ermenegildo Zegna Official Website
