By  on February 19, 2014

MILAN — The Ermenegildo Zegna Group has earmarked 25 million euros, or $34.3 million at current exchange, to stimulate excellence in Italy.

In a tightly packed press conference on Wednesday, kicking off Milan Fashion Week, Paolo and Gildo Zegna, president and chief executive officer, respectively, of the Ermenegildo Zegna Group, presented the Ermenegildo Zegna Founder’s Scholarship as a tribute to the founder of the giant men’s wear firm. Every year for 25 years, the group plans to provide 1 million euros, or $1.3 million, to enable talented Italian graduates to pursue postgraduate studies or conduct research outside of Italy. The funds will be granted on condition that those students return to Italy upon completion of their programs abroad.

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