Zegna Group profits widen, revenue up 23.9 percent

Thom Browne parent Zegna Group saw its profits more than double in the first half of the year.

The group made a profit of 52.1 million euros in the six months ended June 30, up from 21 million euros the prior year.

That came as revenue jumped 23.9 percent to 903.1 million euros, with the group citing an “outstanding” performance in the US and EMEA, where revenues rose 26.1 percent and 23.8 percent, respectively.

Meanwhile, revenue in APAC increased 22 percent, with Greater China and Japan up 24.1 percent and 30.9 percent, respectively.

Double-digit growth across brands

Breaking it down by segment, revenue at Zegna increased 17.9 percent to 651.8 million euros, while revenue at Thom Browne rose 11.9 percent to 208 million euros.

Looking towards the second half of the year, group chair and CEO Ermenegildo Zegna said the company will put a “major focus” on working with the new leadership team at Tom Ford Fashion “to further develop and position the brand as an icon in ultra-luxury while also supporting the further expansion of the Thom Browne footprint”.

He continued: “In this dynamic operating environment, we are encouraged by the strong growth we are seeing in the US and EMEA but also acknowledge the impact of a milder recovery in Greater China.

“I am proud of our exceptional leadership team, and we are confident in the steps we have taken to position our portfolio of brands in the more resilient ultra-luxury segment and to strengthen the Group’s own retail network and achieve a more balanced geographical presence.

“There is rich and exciting potential for the Group’s three brands, and we look forward to continuing to execute our strategy to enhance their performance even further.”