The Ermenegildo Zegna Group announced it reached an agreement with Sandbridge Capital and with Mr Thom Browne that sees the company acquire 85 percent of Thom Browne Inc, for an enterprise valuation of approximately half a billion dollars. With the balance of the company’s shares, Thom Browne will be the sole other shareholder.
“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,” chief executive officer of the Zegna Group, Ermenegildo Zegna said.
Thom Browne, founder and chief creative officer also expressed excitement for the new partnership with Zegna. “I feel that their passion for only the best quality and craftsmanship is very much aligned with how I have always approached my collections… my conceptual approach to design and the long-term vision of growing a true luxury design-led collection for men and women is something we both feel strongly about as the future strength of Thom Browne… with Zegna, Thom Browne will have a partner who not only understands the fundamentals of this business but truly embodies them and brings the knowledge and skills of a global leader.”
To pursue and accelerate the profitable and robust growth trajectory the brand has seen over the past years; the Thom Browne business will remain independently run. Due to this Thom Browne will continue in the same capacity as chief creative officer and Rodrigo Bazan will retain his role as chief executive officer.
“I could not be more pleased to announce this transaction, which ensures the continued long-term growth of Thom Browne. I am profoundly grateful for the successful partnership that Thom and I have developed over the years. Thom is a uniquely talented visionary – his enduring commitment to building a modern American luxury house dedicated to the finest craftsmanship and tailoring is truly inspiring,” Ken Suslow, founding managing partner of Sandbridge Capital added.