Code name: ZEN.
It is under this acronym that investors will follow the Ermenegildo Zegna Group share price.
One hundred and eleven years after its creation in Trivero (Piedmont), the Italian luxury group made its listing on the New York Stock Exchange on Monday.
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Alessandro Sartori (Zegna): "To propose a modern way of dressing"
For the occasion, Gildo Zegna, CEO and grandson of the founder, will ring the bell to open the meeting on Wall Street.
The group, which expects to achieve this year 1.2 billion euros in turnover and 111 million euros in operating profit, will have an initial market capitalization of 2.4 billion dollars.
From family to casual
"The year of the Covid has been very, very hard"
confides Gildo Zegna to explain his choice to go public.
In 2020, global sales plunged by 23%, and the group only made money (24 million euros in operating profit) thanks to Thom Browne, an American brand acquired in 2018 (180 million euros in operating profit). 'business).
Despite a 20% rebound this year, the group's sales will not yet be at their level ...
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