Italian luxury fashion brand Zegna to go public in $3.2 billion SPAC deal – FT

Plywood covers the windows of an Ermenegildo Zegna store in Chicago, Illinois, U.S. October 13, 2020. Chicago police have warned local retailers to prepare for possible protests around Election Day. Picture taken October 13, 2020. REUTERS/Moe Zoyari/File Photo(Reuters) – Italian luxury fashion group Ermenegildo Zegna has agreed to go public by combining with a special-purpose acquisition company (SPAC) in the U.S., giving the business an enterprise value of $3.2 billion, the Financial Times said on Monday.“We could have remained independent for another 100 years, but the moment is appropriate and the world has changed a lot and luxury has become very challenging,” Chief Executive Officer Gildo Zegna told the FT.Reporting by Radhika Anilkumar in Bengaluru; Editing by Shailesh Kuber

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