MILAN – Capitalizing on the momentum of its brands, the Ermenegildo Zegna Group is welcoming a new partner.

Zegna has inked an agreement to sell 14.1 million shares to Venezio Investments Pte. Ltd., an indirect wholly-owned subsidiary of Singapore-based investment company Temasek Holdings.

The price was pegged at $8.95 a share, an average of Zegna share prices over the period from June 30 to July 25, so that upon the closing, expected on Wednesday, the Italian group will receive a total of $126.4 million.

Zegna is publicly listed on the New York Stock Exchange and Temasek previously acquired 12.7 million ordinary through market purchases. After the closing of the transaction, Temasek will owm a total of 26.8 million shares, equivalent to 10 percent of Zegna.

“I am delighted to welcome Temasek as a strategic investor in our group’s shareholder base,” said Gildo Zegna, chairman and chief executive officer of the group. “Their investment is a strong endorsement of our vision and long-term growth potential, while firmly recognizing the global significance of the Italian luxury sector. With Temasek’s partnership, we are even better positioned to help strengthen our organic expansion globally and to reinforce our unique role as a custodian of truly authentic brands.”

Nagi Hamiyeh, head of EMEA of Temasek, stated that the Zegna Group “has successfully established itself in the  high-end luxury segment and presents significant long-term value creation opportunities across each brand. Our investment in them underscores our ongoing commitment to support leading European businesses with strong track records and global potential.”

Hamiyeh concluded by saying that Temasek will be “a thoughtful, long-term partner to the Zegna family and management team, empowering them to execute on their growth strategy and supporting their vision to elevate their iconic brands and global footprint.”

In a statement, Zegna said “the enhanced financial flexibility will allow the group to carefully seize selected opportunities for accelerating the organic growth of the current brand portfolio.” It pointed to Temasek’s “wealth of experience in the luxury sector and deep knowledge of the Asian market” contributing to the Zegna group’s “growth prospects and support the expansion in key geographies” where it is still underdeveloped.  

Hamiyeh is expected to join the Zegna Group’s board of directors in June 2026.

Temasek has a wide range of investments in different business, among which are Amazon, Visa Inc. and Singapore Airlines. It had previously invested in Stone Island and Li & Fung.