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Industry Leaders Take Stake in Italian Mill

Loro Piana, Marzotto and Ermenegildo Zegna have each acquired 15 percent of the Biella, Italy-based combing mill Pettinatura di Verrone.

TEXTILE TRIO: Loro Piana, Marzotto and Ermenegildo Zegna joined forces to support the Italian textile production chain.

The industry’s three big players each acquired 15 percent of Biella, Italy-based combing mill Pettinatura di Verrone, which is controlled by the G. Schneider Group.

“Our company has always produced high quality products for a niche market, which is not directly affected by the competition coming from emerging markets,” stated Pettinatura Di Verrone’s president Elena Schneider. “We are pleased, together with our new shareholders, to continue supporting the real Made in Italy, and to promote the full integrity of the textile production chain.”