The Ermenegildo Zegna Group announced today that it has reached an agreement with Sandbridge Capital and with Mr. Thom Browne for the acquisition of 85% of Thom Browne Inc. for an enterprise valuation of approximately half a billion dollars. Mr. Thom Browne will be the sole other shareholder, with the balance of the Company’s shares.
The Thom Browne business will remain independently run, in order to pursue and accelerate the strong and profitable growth trajectory that the brand has seen over the past several years. As such, Mr. Thom Browne will continue in the same capacity as Chief Creative Officer and Rodrigo Bazan will retain his role as Chief Executive Officer.
Ermenegildo Zegna, Chief Executive Officer of the Zegna Group said: "As global leaders in luxury menswear, we have always been open to opportunities for external growth. And, since we started looking at partnerships, I always knew that Thom Browne would be the perfect fit.”