Temasek Holdings has acquired a ten p.c minority stake within the Ermenegildo Zegna Group, the mum or dad firm of luxurious menswear model Zegna, Thom Browne and Tom Ford Vogue. The deal includes the acquisition of 14.1 million shares at USD 8.95 per share, amounting to roughly USD 126.4 million (or SGD 162.9 million). This brings Temasek’s complete holdings within the group to 26.8 million shares, following a earlier acquisition of 12.7 million shares, now collectively representing 10 p.c possession.
The transaction is about to shut by 30 July 2025. The partnership goals to speed up Zegna Group’s international growth and retail progress, with Temasek contributing its expertise in luxurious and data of the Asian market.

One attainable motive Temasek Holdings is exploring style investments within the area might be the valuation alternatives created by international market volatility — notably after disruptions like US President Donald Trump’s commerce conflict, which made a number of luxurious and consumer-facing firms extra engaging as a result of depressed inventory costs.
Proceeds from the transaction will probably be used to strengthen Zegna’s stability sheet and assist growth into new markets — notably in Asia — the place Temasek’s regional experience is anticipated to play an necessary position, the assertion learn.

Nagi Hamiyeh — head of Europe, Center East and Africa — at Temasek will be a part of Zegna Group’s board as a non-executive director. As of March 2025, Temasek’s portfolio is valued at SGD 434 billion. Temasek has a historical past of style investments — together with Moncler in 2016, a stake in Farfetch in a USD 110 million round that very same yr and a 30 p.c share in Stone Island in 2017 (later offered to Moncler in 2020).

Gildo Zegna — Chairman and CEO — characterised Temasek’s partnership as a powerful vote of confidence within the firm’s long-term imaginative and prescient and progress ambitions. He emphasised that the collaboration reinforces Zegna’s position as a guardian of real luxurious heritage.
“With Temasek on board, we’re in a stronger place to speed up our international growth,” Zegna mentioned, reaffirming that the corporate stays firmly below household management. “The enterprise shouldn’t be on the market, and that won’t change,” he said.
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