Covid has forced the Italian luxury industry to step up the pace of its transformation and search for investors, as shown by Zegna announcing a forthcoming stock market listing, and L Catterton’s acquisition of Etro.
There seems to be no stopping Exor, which is often mentioned by the Italian media as potentially engaged in creating a major luxury conglomerate in Italy. It has now joined forces with Wwicl on an investment company.
Speculation over the future of Italian fashion group Armani came to the fore on Wednesday after the Milanese brand said it had no interest in a tie-up with car maker Ferrari, as proposed in a plan by investment banks.
Zegna has partnered with automotive giant Stellantis in an ambitious plan to transform its entire fleet into green cars by 2025. Stellantis brands include Fiat, Alfa Romeo, Peugeot, Citroën and Maserati.