Ermenegildo Zegna has bought an 85 per cent stake in Thom Browne, in a deal valuing the US fashion house at about $500 million. The Italian company said the deal would expand its business in the United States and widen its customer base. Founder-designer Thom Browne will retain 15 per cent stake in the company. His CEO Rodrigo Bazan will keep his job, as the company continues to be managed independently after the deal. “Since we started looking at partnerships, I always knew that Thom Browne would be the perfect fit,” Chief Executive Ermenegildo Zegna said in a statement announcing the deal.

Facebook Comments