Washinelli’s majority shareholder sells 0.95 percent stake

Major shareholder Brunello Cucinellis, Fedone’s parent company, has sold 640,000 shares, a 0.95 percent stake. The shares were sold through an expedited bookbinding procedure for 47.20 euros per share.

This means Fedone, the parent company of founder and chairman of namesake brand Brunello Cucinelli, now owns a 50.05 percent stake and will remain the controlling shareholder of the property. The company said that the offer was made available to qualified Italian investors and foreign institutional investors.

Brunello Cucinelli is one of the brands with the fastest rebound after the COVID-19 pandemic. Brand shares surged to growth not seen since 2017, and they are a prime target for investors.