Ermenegildo Zegna Group and Al Tayer Group announce the establishment of a Joint Venture

Ermenegildo Zegna announced a joint venture with Al Tayer Group, for the operation of Ermenegildo Zegna boutiques and other points of sale in the UAE.

  
Dubai, UAE, October 11, 2015 - Ermenegildo Zegna, one of the world's most prominent luxury menswear houses, is pleased to announce a joint venture with Al Tayer Group, for the operation of Ermenegildo Zegna boutiques and other points of sale in the UAE.  Following an agreed transition period, the joint venture shall be the main operator of Ermenegildo Zegna in the UAE market. 

Al Tayer Group is a UAE-based diversified business conglomerate, and its retail division represents over 35 of the world's most renowned brands, operating over 200 stores in the region.  Headquartered in the UAE, it also has operations in Bahrain, the Kingdom of Saudi Arabia, Kuwait, Qatar and Oman.

Gildo Zegna, CEO of the Ermenegildo Zegna Group said, "The Zegna Group has been present for years in the UAE and we have now decided to continue our expansion together with Al Tayer Group, a company that shares our values and business vision. A warm acknowledgment goes to UAE Trading, which has been our long term partner during Zegna's growth in the Middle East market, contributing in strengthening the Zegna brand's presence and image as one of the most important in luxury menswear in the region."

"We are delighted to be entering into a new business relationship with Ermenegildo Zegna.  Zegna is the global reference in the luxury menswear category, with an immeasurably strong heritage built on the foundations of family, a commitment to excellence and ethics, a passion for quality and style and a pioneering vision.  At Al Tayer Group we share many of these principles, and we are confident that this strategic alliance will enable the delivery of the finest shopping experience to the Zegna customer", said Khalid Al Tayer, CEO - Retail, Al Tayer Group.

About Ermenegildo Zegna Group
The Ermenegildo Zegna Group is a leading luxury menswear brand and one of the most renowned businesses in Italy. Founded in 1910 in Trivero, in the Biella Alps, by the young entrepreneur Ermenegildo, whose vision was to ethically create the world's finest textiles through innovation and the sourcing of the noblest fibers directly from their markets of origin, the company is managed today by the fourth generation of the Zegna family with Gildo Zegna as CEO. Since the late 1980s, the company has implemented a comprehensive strategy of verticalization, creating a global luxury brand which now ranges from fabric to clothing to accessories, is focused on retailing, pioneering early entry in emerging luxury markets, BRIC and Asia in particular, and was the first luxury brand to open a monobrand store in China in 1991.  

Ermenegildo Zegna celebrated 100 years of excellence in 2010. Today there are 525 Zegna stores (298 company-owned) in over 100 countries around the world.The total Group revenues in 2014 reached € 1.210 bn.

 In 2012 the Group launched ZegnArt, an independent commitment focused on international collaboration in the field of visual arts and in February 2014, the Group announced the Ermenegildo Zegna Founder's Scholarship, a 25-year project named for its founder with an annual investment in education of €1 million. 

About Al Tayer Group
Al Tayer Group is a diversified regional business established in 1979 with its headquarters in Dubai, UAE. Since its inception, the Group has grown rapidly and currently operates in 12 countries in the Middle-East and beyond, with over 9,000 employees. It has built leading operations in multiple sectors, including automotive, contracting, retail and services.   

In retail, Al Tayer Group has firmly anchored its position as a leader in the Middle East through the representation of major brands such as Alexander McQueen, Boucheron, Bottega Veneta, Coach, Dolce & Gabbana, Emilio Pucci, Giorgio Armani and  Jimmy Choo, to name but a few.  Al Tayer Group is also responsible for opening and operating the largest Harvey Nichols outside the United Kingdom as well as the first Bloomingdale's stores outside the United States.  Complementing its position in luxury retail, the Group's portfolio also includes leading lifestyle brands such as Gap, Banana Republic and Crate and Barrel.  The Group also has joint ventures with Bulgari, Gucci, Prada and Saint Laurent.

For more information on Al Tayer Group, please visit www.altayer.com.

For more information:
Giulia Pessina: Giulia.pessina@zegna.com +39 335 5622814
Emma Rymer: erymer@altayer.com +9714 2011158

© Press Release 2015


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