Ermenegildo Zegna Group Announces Partnership With Temasek to Support Global Growth Journey. The Investment Firm Will Hold a 10% Stake in the Italian Luxury Group.
- Ermenegildo Zegna Group and Temasek signed a share purchase and investor rights agreement under which the Italian Group will sell 14.1m in the Company's treasury shares to the Singapore-headquartered investment company at a price of $8.95 per share
- Upon closing, Temasek will hold, in total, 26.8m shares, equal to 10% of Ermenegildo Zegna Group's ordinary shares outstanding, having previously acquired 12.7m shares on the market
- At the completion of the purchase, the Ermenegildo Zegna Group will receive $126.4m in cash
- Nagi Hamiyeh, Head of EMEA of Temasek, is expected to become a non-executive member of the Board of Directors at its next annual General Meeting
- The transaction affirms the strength of the Ermenegildo Zegna Group's vision and enhances its financial flexibility to support the organic growth of its current brands' portfolio
Ermenegildo Zegna N.V. (NYSE:ZGN) (the "Company" and, together with its consolidated subsidiaries, the "Ermenegildo Zegna Group" or the "Group") and Venezio Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek Holdings (Private) Limited ("Temasek") today announced an agreement under which the Singapore-headquartered investment company will invest in the Italian luxury Group. Temasek has agreed to purchase 14,121,062 in the Company treasury shares, at a price of $8.95 per share (the "Transaction"), in line with the volume-weighted average of ZGN shares' prices over the period from June 30 to July 25, 2025. Temasek has previously acquired 12,699,981 ordinary shares of the Company through market purchases which, together with the shares to be acquired in the Transaction, will represent a 10% stake in the Company's ordinary share capital outstanding after conclusion of the Transaction.
Ermenegildo "Gildo" Zegna, Chairman and CEO of the Ermenegildo Zegna Group, commented: "I am delighted to welcome Temasek as a strategic investor in our Group's shareholder base. Their investment is a strong endorsement of our vision and long-term growth potential, while firmly recognizing the global significance of the Italian luxury sector. With Temasek's partnership, we are even better positioned to help strengthen our organic expansion globally and to reinforce our unique role as a custodian of truly authentic brands."
Nagi Hamiyeh, Head of EMEA of Temasek commented: "Ermenegildo Zegna Group has successfully established itself in the high-end luxury segment and presents significant long-term value creation opportunities across each brand. Our investment in them underscores our ongoing commitment to support leading European businesses with strong track records and global potential. We look forward to being a thoughtful, long-term partner to the Zegna family and management team, empowering them to execute on their growth strategy and supporting their vision to elevate their iconic brands and global footprint."
Upon the closing of the Transaction, Ermenegildo Zegna Group will receive a total cash consideration of $126.4m. The Transaction will reinforce the Group's balance sheet at a time when management is well-positioned to capitalize on the strong momentum of its brands. The enhanced financial flexibility will allow the Group to carefully seize selected opportunities for accelerating the organic growth of the current brand portfolio. Temasek wealth of experience in the luxury sector and deep knowledge of the Asian market will contribute to the Ermenegildo Zegna Group growth prospects and support the expansion in key geographies where the Group's presence remains underdeveloped.
Nagi Hamiyeh, Head of EMEA of Temasek, is expected to join the Group's Board of Directors in June 2026.
The Transaction is expected to close by July 30th, 2025.
Ermenegildo Zegna Group has been assisted by UBS AG and Sullivan & Cromwell LLP as financial advisor and legal counsel, respectively.
About Ermenegildo Zegna Group
Founded in 1910 in Trivero, Italy, the Ermenegildo Zegna Group (NYSE:ZGN) is a global luxury company with a leading position in the high-end menswear business. Through its three complementary brands, the Group reaches a wide range of communities and market segments across the high-end fashion industry, from ZEGNA's timeless luxury to the modern tailoring of Thom Browne, to seductive elegance with TOM FORD FASHION. The Ermenegildo Zegna Group is internationally recognized for its unique Filiera, owned and controlled by the Group, which is made up of the finest Italian textile producers fully integrated with unique luxury manufacturing capabilities, to ensure superior excellence, quality and innovation capacity. The Ermenegildo Zegna Group has more than 7,100 employees and recorded revenues of €1.95 billion in 2024.
About Temasek
Temasek is a global investment company headquartered in Singapore, with a net portfolio value of S$434 billion (€299b) as at 31 March 2025. Its Purpose "So Every Generation Prospers" guides it to make a difference for today's and future generations. Temasek seeks to build a resilient and forward-looking portfolio that will deliver sustainable returns over the long term. It has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and Brussels, London, Mexico City, New York, Paris, San Francisco, and Washington, DC outside Asia.
Forward Looking Statements
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Ermenegildo Zegna Group
Paola Durante, Chief of External Relations
Alice Poggioli, Investor Relations Director
[email protected] / [email protected]