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The premium Italian fashion brand is reported to have reached an agreement to acquire an 85% stake in Thom Browne in a move to attract younger shoppers.
Ermenegildo Zegna announced on August 28 it has reached an agreement with private equity Sandbridge Capital to buy a majority stake in insurgent American fashion label Thom Browne. Valued at US$500 million, the deal is said to confirm the rising popularity of small brands and high-end casual wear.
New York based designer, Thom Browne, is to hold the label’s remaining 15% stake and to maintain his current role as the brand’s Chief Creative Officer.
Founded in 2001, the American high-end label has a wide collection of leather goods, accessories and footwear for both men and women.