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Zegna Family Prepares Fourth Generation Takeover
24 Nov
Summary
- Gianluca Tagliabue appointed new CEO as Gildo Zegna becomes executive chair.
- Zegna's sons, Angelo and Edoardo, promoted to co-CEOs of the main Zegna label.
- Group increases in-house production to 60% and plans new leather goods factory.
Ermenegildo Zegna is implementing a succession plan with Gianluca Tagliabue stepping in as the new chief executive. Current CEO Gildo Zegna will move to the role of executive chair, while his sons, Angelo and Edoardo Zegna, are promoted to co-chief executives of the core Zegna brand. This transition prepares the 115-year-old business for fourth-generation leadership.
The $2.5 billion luxury group, which also owns Thom Browne and the Tom Ford fashion business, is enhancing its vertical integration. Currently, 60% of its clothing is produced in-house, a strategy strengthened by the impending opening of a new leather goods factory in Parma. This move aims to bolster the company's control over its supply chain amidst industry scrutiny.
Gildo Zegna emphasized the importance of Tagliabue's operational expertise in guiding his sons through the complexities of the modern luxury market. The company is also collaborating with the Italian government on legislation to ensure supply chain transparency and legality, a critical issue for the industry.
