Prada Group, an Italian luxury fashion house, and Ermenegildo Zegna Group, an Italian luxury fashion company, agreed to acquire a 30% stake in Fedeli, a luxury fashion brand that produces knitwear and swimwear collections for men and women. Financial terms were not disclosed. “Over the years, the acquisition of historic Italian companies has enabled the Group to build a platform of luxury textile companies guaranteeing the highest quality and safeguarding the uniqueness of Italian craftsmanship. Fedeli's own focus on quality and sustainability has brought us closer. In addition to including another excellent craftsman in our textile supply chain, this acquisition makes me particularly proud as it underlines our commitment to contributing to the growth of Fedeli and to preserving and enhancing the craftsmanship of Made in Italy. For the second time in two years, I am supported in this journey by a great entrepreneur from the Italian fashion industry with whom I share a passion for the ‘filiera’ and the ambition to create a system teeming up with Italian groups,” Gildo Zegna, Ermenegildo Zegna Group Chairman and CEO.