According to the terms of the transaction, both Prada and Zegna will individually hold a 15% stake in Fedeli.
In the first quarter, China reemerged as the growth engine, driving a robust rebound in sales in the Asia-Pacific region.
The Asia-Pacific region saw a 1.7% YoY decline due to COVID-19 control measures in China, but rebounded with growth in the second half of the year.