Ermenegildo Zegna Group has executed a second round of investment in Norda, the Montreal-based technical trail-running shoe brand. The Italian luxury group initially acquired a minority stake in Norda in January 2023.
Terms of the new funding weren’t disclosed.
Norda said it was Ermenegildo Zegna Group, the parent of Zegna, Thom Browne and Tom Ford Fashion, that originally approached Norda about a footwear and apparel collaboration shortly after Norda launched its first shoe, the 001, in 2021. The collaboration resulted in a collection of footwear, apparel and accessories released in March 2023.
“Our decision to increase our Group’s stake in Norda reaffirms our strong belief in the brand’s long-term potential. Norda’s authentic identity, rooted in material innovation, lightness and a compelling long-term value proposition fueled by unprecedented growth, is fully aligned with our Group’s purpose,” said Ermenegildo Zegna, chairman and CEO of the Ermenegildo Zegna Group. “As a custodian of authenticity, we are proud to stand alongside Norda’s management and continue to work with the brand as it grows.”
“Mutual values are the foundation of the partnership between Norda and the Ermenegildo Zegna Group,” said Norda co-founder and CEO Nick Martire. “We’re both family companies and makers of the finest. I’m proud to continue and expand our work with a house that has a 100-year-plus legacy.”
Image courtesy Norda
