MILAN — The Ermenegildo Zegna Group-controlled ZECA company on Monday has acquired the historic “Cappellificio Cervo” hattery, following its liquidation by the Court of Biella, the Piedmont city where it’s located. Financial details of the deal have not been disclosed.
Ermenegildo Zegna Group’s chief executive officer Gildo Zegna said the acquisition responds “to fashion’s renewed attention to the hat” and is “dictated by the desire to help keep alive a manufacturing skill that is typical of our territory.”
The ZECA company, which counts entrepreneur Vincenzo Caldesi as a partner, will be the owner of the factory, the machinery and the hattery’s brands Cervo, Barbisio and Bantam.
The Artigiana Cappellai hat manufacturer is also expected to join the operation as a minority shareholder, assuming the role of operating partner and bringing its craftsmanship expertise into the organization.
The 19th-century factory will undergo a process of renovation works and strengthening of security measures, while the strategy for the recovery of the production activities and for the future of the three existing brands is still being outlined.
“I am sure that thanks to the expertise of our partners, we will be able to restore luster to a historical brand that over the course of its 120 years of life has positively contributed to the image of ‘crafting excellence’ enjoyed by the Biella area,” concluded Zegna.