Zegna shares were up 10% in premarket trading in New York after the report. The stock is up 9.5% so far this year.
Temasek Holdings Pte is building a 10% stake in Italian fashion house Ermenegildo Zegna Group worth about US$220 million ($283.3 million) as it expands in luxury.
The Singapore state-owned investor is buying a roughly 5% stake from Zegna after initially scooping up shares in the market amounting to another 5% holding, according to people familiar with the matter, who asked not to be identified when discussing a private matter.
