Brussels, 8 August 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Luigi Fedeli e Figlio S.r.l. (‘Fedeli’) by Prada S.p.A., both of Italy, and Ermenegildo Zegna N.V. (‘Zegna’) of the Netherlands.
Fedeli is active in the high-end textile industry and specialises in the production of cashmere and jersey fabrics. Prada is active in the design, production and distribution of high-end leather goods, bags, shoes, fashion accessories and jewels. Zegna is active in the design, creation and distribution of luxury womenswear, menswear and accessories, as well as in the manufacturing and distribution of fabrics and textile.
The Commission concluded that the proposed acquisition would raise no competition concerns, given that the acquired company has negligible activities in the European Economic Area. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11180.
Source – EU Commission