Ermenegildo Zegna sells 4.27% stake in Brunello Cucinelli

By

Dominique Muret

Translated by
Nicola Mira

Published
Feb 1, 2017

Ermenegildo Zegna is no longer a shareholder in Brunello Cucinelli. The Monterubello holding company owned by the luxury menswear label has reduced to zero its 4.27% stake in the Italian cashmere label, as stated in a press release issued by Italian stock exchange regulator CONSOB.

In parallel, Italian merchant bank Mediobanca has placed on 20th January 3.02% of Brunello Cucinelli's shares with Italian and international institutional investors, at a price of €21.09 per share.

It is very likely that Brunello Cucinelli has re-injected on the market the stake acquired by Zegna after the cashmere group was listed on the Milan stock exchange. Ermenegildo Zegna is one of Brunello Cucinelli's main fabric suppliers.