Ermenegildo Zegna buys majority stake in Dondi

Ermenegildo Zegna's luxurious knits are about to get a bit more luxe. The Italian luxury menswear company has bought a majority stake in knitwear producer Dondi. Ermenegildo Zegna has bought a 65 percent stake in the company, the value of which was not disclosed.

Dondi is based in Fossoli in Central Italy. The company specializes in 100 percent made in Italy knits for men and women. Dondi has been a supplier to both Ermenegildo Zegna and countless other luxury brands across Europe for over 40 years. Dondi's top markets include the U.S.A, France, Germany, Japan, South Korea, the U.K., and Turkey.

Dondi was founded in the 1970s by Edda and Lauro Dondi, and is now run by their son Stefano, daughter Lorella, and her spouse Guido Capelli. In a statement, the trio said Ermenegildo Zegna is "the ideal partner for the natural continuation of our entrepreneurial story." The agreement allows the family to retain 35 percent of the company and creative and operational control.

Acquisitions have become a growing part of Ermenegildo Zegna's strategy. Last year, the company also acquired American luxury label Thom Browne.

photo: courtesy of Ermenegildo Zegna