Ermenegildo Zegna, the luxury group, hailed an improvement in revenue for both the first half of the year and the second quarter as it continues to expand its market position and benefit from China’s recovery.
In the first half, revenues increased by 24.7 per cent to reach € 903 million. In the second quarter, revenues increased by 37.4 per cent to € 475 million at constant currency, with organic growth during this time period coming in at 24.5 per cent.
The mergers of Pelletteria Tizeta and Tom Ford, according to the firm, are indicative of the revenue growth. For instance, Tom Ford, a new operating and reporting sector of the business, recorded revenues of € 64 million.
Sales at Zegna, meanwhile, totaled € 332 million for the second quarter, up 25.2 per cent, and € 652 million for the first half of the year, up 18.4 per cent.
Thom Browne also saw a rise in revenue, with the segment expanding by 8.1 per cent to € 95 million in Q2 and by 13.6 per cent to € 208 million over the course of the half year.
According to the group, strong direct-to-consumer performance at the brand was what drove this gain, offsetting a fall in wholesale. Notably, the company had expanded its retail network by 13 new locations since 30th June 2022.
Geographically, Ermenegildo Zegna reported strong growth in all regions during Q2, but especially in the Greater China Region, where sales increased by 42 per cent to € 142 million.
Southeast Asia and Japan both experienced significant year over year increase, with the latter growing by 36.8 per cent.
In the EMEA region, group revenues increased by 37.9 per cent to € 173 million, with ‘exceptionally well’ results from both the UAE and Europe. In the US, group revenues increased by 45.3 per cent to € 99 million for the quarter.
