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Gildo Zegna Denies Considering Public Listing

Ermenegildo Zegna group's ceo responds to a report in Italy’s daily Il Sole 24 Ore that the Italian Stock Exchange has set its sights on the company.

ZEGNA DENIAL: Still reveling in the successful initial public offerings of Salvatore Ferragamo SpA and Brunello Cucinelli SpA, the Italian Stock Exchange has set its sights on the Ermenegildo Zegna group, according to Italy’s daily Il Sole 24 Ore. Based on unspecified financial sources, the paper speculated in an article on Tuesday that Zegna is mulling a public listing.

Not so fast. Asked to comment on the article, chief executive officer Gildo Zegna sent a statement to WWD saying: “I have repeatedly explained that we have no interest or need to go public. The family is united, we have clear ideas, a precise strategy, a strong team. All this, together with our good financial results, allows us to finance the opening of new stores, the development of new markets and other important projects. We are a private company and we plan to remain independent.”

This story first appeared in the January 9, 2013 issue of WWD.  Subscribe Today.

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