Ermenegildo Zegna sales jump 37.4 percent as group gains market share

Luxury group Ermenegildo Zegna welcomed a positive uptick in revenue for both the first half of the year and the second quarter, as it continues to gain market share and profit from China’s rebound.

The company announced revenues were up 24.7 percent in the first half reaching 903 million euros, while during Q2 they jumped 37.4 percent to 475 million euros at constant currency, with organic growth during this period at 24.5 percent.

The group credited the consolidations of Tom Ford and Pelletteria Tizeta as being reflective of the increase in revenue.

For Tom Ford, for example, which is a new operating and reporting segment of the group, revenues of 64 million euros had been reported.

Meanwhile, at Zegna sales came in at 332 million euros, growing 25.2 percent for Q2, while for the half year they amounted to 652 million euros, up 18.4 percent.

At Thom Browne there was also a revenue uptick, with the segment growing 8.1 percent to 95 million euros in Q2 and hitting 208 million euros – a 13.6 percent increase – over the half year period.

The group said such growth at the brand was driven by robust direct-to-consumer performance, which had offset a decline in wholesale. Notably, the brand had added 13 new stores to its retail network since June 30, 2022.

Geographically, Ermenegildo Zegna reported robust global growth during Q2, particularly in the Greater China Region, where revenues were up 42 percent at 142 million euros.

There was also strong year-over-year growth in Southeast Asia and a 36.8 percent growth in Japan.

Group revenues from the EMEA rose 37.9 percent to 173 million euros, with both the UAE and Europe performing “exceptionally well”, while in the US revenues hit 99 million euros for the quarter, an uptick of 45.3 percent.