Why is the historic Ermenegildo Zegna going public after 111 years? The Italian fashion brand will list shares on the New York Stock Exchange in a US$3.2 billion SPAC deal

Ermenegildo Zegna is listing its shares via a US$3.2 billion deal with a blank-check company, letting the Italian fashion house join other luxury brands tapping investor cash while keeping the founding family in control.Zegna said Monday, July 11, that it will raise US$880 million by combining with Investindustrial Acquisition Corporation, a special-purpose acquisition company whose chairman is Sergio Ermotti, former chief executive officer of UBS Group AG. The Zegna family will control 62 per…


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