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Ermenegildo Zegna Acquires Majority Stake in Thom Browne in $500 Million Deal

Ermenegildo Zegna purchased 85 percent of high-end New York fashion brand Thom Browne on Tuesday, leaving the eponymous 53-year-old founder as the only remaining shareholder. Zegna bought the fashion house at an estimated $500 million valuation as the Italian men’s wear powerhouse continues to refurbish its image to better attract millennial consumers. Negotiated on behalf…

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