Temasek Expands Global Luxury Portfolio with 10% Stake in Zegna

Singapore's state investment firm Temasek has strengthened its position in the luxury fashion sector by increasing its stake in Ermenegildo Zegna Group to 10 percent, demonstrating Singapore's growing influence in strategic global investments.

Strategic Investment Details

The transaction, valued at US$126.4 million, involves the purchase of 14.1 million Zegna treasury shares at US$8.95 each. This acquisition, combined with Temasek's previous holdings of 12.7 million shares from open market purchases, solidifies its position as a significant stakeholder in the Italian luxury fashion house.

Long-term Partnership Vision

This strategic move aligns with Singapore's sophisticated approach to wealth management and investment, particularly in supporting established European family businesses with global potential. Nagi Hamiyeh, Temasek's head of Europe, the Middle East and Africa, is set to join Zegna's board as a non-executive director in June 2026.

Asian Market Expansion Strategy

The partnership leverages Temasek's deep understanding of the Asian market, where Singapore's expertise in regional business dynamics will prove invaluable. The proceeds will strengthen Zegna's balance sheet and support its expansion into new markets, particularly in Asia.

Luxury Market Resilience

Despite global economic uncertainty, the luxury sector shows remarkable resilience, with top-tier consumers spending over €50,000 annually accounting for 23 percent of industry value, according to Boston Consulting Group's analysis.

"We look forward to being a thoughtful, long-term partner to the Zegna family and management team," stated Nagi Hamiyeh, emphasizing Temasek's commitment to supporting Zegna's global growth strategy.