Covid has forced the Italian luxury industry to step up the pace of its transformation and search for investors, as shown by Zegna announcing a forthcoming stock market listing, and L Catterton’s acquisition of Etro.
In a month that's shaping up to be huge as far as luxury deals are concerned, the latest news is that LVMH is boosting its stake in Off-White. Virgil Abloh's streetwear label will now be 60% owned by the French giant.
Just a day after news that L Catterton will take a stake in Etro, Ermenegildo Zegna said it will list its shares in New York and is combining with Investindustrial Acquisition Corp, which will be a minority shareholder.
Milan Fashion Week Men ended on Tuesday with a sense of unfinished business. Nearly all shows were virtual and there was little buzz in the city, though designers conveyed unreserved optimism in their videos.
The almost fully virtual fashion week runs until Tuesday, with only Armani, Dolce & Gabbana and Etro hosting physical shows. Highlights include the first collection by Glenn Martens for Diesel and eight new labels.
Milan's women's ready-to-wear fashion week will once again be taking place via a phygital format. The event runs from 23 February to 1 March and will feature 61 shows, including big-name brands and new arrivals.
Milan Fashion Week Men's runs from 15 to 19 January, with an exclusively online and severely reduced calendar. Deprived of the majority of its stars, the event has bet on young talent and is introducing 10 new labels.