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Zegna sees growth Asia and Europe after posting double digit growth in the second quarter and confirms it will hit 2 billion euro mark in 2025.

The deal marks a major expansion of the group's fashion operations and Kering has an option to buy all of Valentino by 2028.

Shares in LVMH fell by 3.7% in early trading on Wednesday after the report of in-line sales growth in the second quarter. Analysts believe that this signifies that the sector may be moving towards a less impressive path of growth as the luxury industry normalises after years of stellar growth.

PARIS (Reuters) -Shares in LVMH fell on Wednesday as an in-line increase in sales at the world's top luxury indicated the overall sector was moving towards a less impressive path of growth. Despite a "solid" growth rate, the report "will likely trigger further questions...on whether we are now at the end of the positive earnings revision cycle for luxury and on the drivers of sector growth going forward," wrote analysts at JP Morgan. LVMH shares were down 3.7% in early session trading, also dragging down the shares of its rival Kering.

PARIS: Shares in LVMH fell on Wednesday as an in-line increase in sales at the world’s top luxury indicated the...