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$3.2 billion valuation for the new enterprise. Bucking the consolidation trend in the retail industry, the luxury menswear brand will take this route to fuel its expansion in Asia and the United States. Zegna is a family-owned concern and was founded in 1910. It intends to raise $880 million by combining with the European private equity group Investindustrial, which former UBS chief executive Sergio Ermotti chairs. Under the terms of the deal, Zegna will sell a portion of their holdings and retain 62% of the combined company, which is being given an equity value of $2.5 billion. About $546 million of the funds raised, net of fees, will allow the Zegna family to cash in on a part of their stake. Almost $250 million will be used for investing and acquiring other brands. Gildo Zegna, the 65-year-old chief executive, told the

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