Ermenegildo Zegna Group has reported first-quarter revenues of €459 million ($522 million), a 1 p.c decline in contrast with €463 million in the identical interval final 12 months.
Steep losses in wholesale income for the Italian luxurious trend group had been offset by regular direct-to-consumer gross sales, notably within the Europe, Center East and Africa area, the Americas and China, which totalled €345 million and represented 81 p.c of the group’s branded product revenues.
The Zegna model’s year-on-year income rose 3.6 p.c to €293 million, with 4.7 p.c progress in DTC revenues. Thom Browne’s income declined 18.6 p.c to €64 million, with 3.5 p.c progress in DTC revenues.
Tom Ford trend gross sales grew 3.8 p.c, reaching €67.5 million. DTC gross sales soared 10 p.c after Haider Ackermann, who was named artistic director final September, introduced his debut assortment for Autumn/Winter 2025 throughout Paris Style Week, which obtained a optimistic reception and precipitated an uptick in retailer foot site visitors.
Impacted by the choice to transform wholesale shops-in-shop into retail concessions, Zegna Group’s wholesale branded revenues declined 19.8 p.c 12 months on 12 months to €79.5 million. Thom Browne wholesale revenues, additional broken by wholesale channel streamlining and differing supply occasions, fell 48 p.c to €17.9 million.
“We’re inspired by these early optimistic outcomes but additionally aware of the latest geopolitical and financial uncertainties,” Zegna Group chairman and CEO Ermenegildo Zegna mentioned in an announcement, including, “Whereas we’ve not noticed vital modifications in prospects’ behaviour throughout our manufacturers, we stay vigilant, agile and centered on our strategic priorities, figuring out that what actually issues is the power of our manufacturers and our unwavering dedication to staying near our prospects.”
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Zegna Group Income Decline 30%
The Italian trend group’s namesake label grew final 12 months, however declining gross sales at its Thom Browne and Tom Ford weighed on revenue. Efficiency is anticipated to enhance ‘step by step’ as revenues rise a median of 4 to 7 p.c yearly via 2027, in response to the corporate’s forecasts.
