With strong demand for its luxury goods, Italy’s Ermenegildo Zegna announced a 19.3 per cent growth in organic revenue for the entire year and suggested raising its dividend by 20 per cent.
Over the period, the family-owned fashion luxury firm, which owns the US labels Thom Browne and Tom Ford Fashion, as well as the menswear brand Zegna, experienced a 24 per cent gain in revenue from Greater China.
“We are on track with the integration of the Tom Ford Fashion business, which is enriching our unique proposition in luxury glamour,” Chairman and CEO Ermenegildo Zegna said.
The company’s full-year revenue reached € 1.9 billion in 2023.
Zegna, which debuted on Wall Street in late 2021, said its EBIT reached € 220 million in 2023. The brand was founded in 1910 by Ermenegildo Zegna in Trivero, Biella, in the Piedmont region of northern Italy.
