Ermenegildo Zegna is bringing a new luxury product to the New York Stock Exchange: itself. And it is doing it in the most financially trendy way.
On Monday, the Italian company known for its master of the universe suits became, it says, the first Italian fashion brand to list on the exchange. It is going public by merging with a shell corporation known as a special purpose acquisition company, the Wall Street fad product better known as a SPAC. Zegna’s SPAC, which was created by Investindustrial, is led by Sergio Ermotti, the former chief executive of UBS. Read more at The New York Times.