Zegna Rings The Opening Bell® The New York Stock Exchange welcomes Zegna , today, Monday, December 20, 2021, in celebration of its listing. To honor the occasion, Ermenegildo Zegna, CEO and Chairman, joined by Chris Taylor, Vice President, NYSE Listings and Services, rings The Opening Bell®. Photo Credit: NYSEGroup. The intention is to acquire an additional 2 million ZGN shares in the market in the coming weeks. In total this will mean an additional 1.2 percent shareholding.
Based on the transaction value, the merged entity will have an initial enterprise value of $3.1 billion with a market capitalization of $2.4 billion. The transaction delivered about $761 million in gross proceeds.Group reported unaudited revenues of 1.35 billion euros, up 1.7 percent compared with 1.33 billion euros in the same period last year. Organically, sales fell 4 percent.
In the third quarter, revenues were down 7.8 percent to 397.3 million euros, impacted by an increasingly challenging Greater China region and a soft wholesale channel at “The year 2024 was different from what we had planned but we must work for the long-term,” said at the time, underscoring the investments made in all brands, and attracting the right talent to leverage the labels’ full potential in 2025. In addition to the Zegna andFashion.