Ermenegildo Zegna Group

Last Wednesday, Gildo Zegna, Chairman and CEO of the Ermenegildo Zegna Group Group, attended the 2024 Milano Fashion Global Summit, where he sat for a one-on-one interview with Tommaso Palazzi. During the interview, Mr. Zegna remarked that “The rules of luxury haven’t changed; however, the world today is more complex than ever, and our role is to simplify complexity. This our mantra: think slow because it takes time to build a strong vision, to develop a compelling project, and to craft iconic products. But then act fast because in today’s world you must be resolute.” Looking ahead, he said: “We are a company with a 114-year legacy, three complementary brands, a unique Filiera – a distinctive integrated supply chain that represents the backbone of our Group and gives us an indisputable competitive advantage – and, most of all, we are proudly Italian. With these winning components, we want for nothing.” He added that, “we have the right combination of resources, ideas and talent to face the volatile year ahead of us.” #MilanoFashionGlobalSummit2024 #TheNewRules

The Ermenegildo Zegna Group today announced unaudited revenues of €1,357.4 million for the first nine months of 2024, +1.7% YoY from €1,334.2 million in the first nine months of 2023 (-4.0% organic). In the third quarter of 2024 revenues reached €397.3 million, -7.8% YoY and -6.7% organic. Gildo Zegna, Chairman and CEO of the Ermenegildo Zegna Group, said: “The first nine months of 2024 saw our revenues grow 2% from the same period last year. Although third quarter revenues showed a slowdown for the Group, I am reassured by the continued positive performance of the Zegna brand, boosted by the DTC channel, and also by the quality of talent we have brought into Thom Browne, Inc. and TOM FORD FASHION as we work to strengthen those teams. Looking ahead to the fourth quarter of 2024 and into 2025, we continue to foresee an uncertain environment, particularly in the Greater China Region. However, I believe that our Group is fully prepared to face the future with stronger brands, a clearer vision and strengthened management team.” Read more on: https://lnkd.in/d54kYb5g

“Visiting one of our stores, meeting with our people there, seeing the energy and the passion in their eyes – it’s always an exciting and invigorating experience! It also reminds me of the early days in my career when I started moving into the family business and spending more time in our stores. We’ve grown and evolved so much since then, but some things – like the importance of our brick-and-mortar stores – have remained unchanged. Our stores are special places; they’re the house where we welcome our clients in, where they learn about our unique legacy, and where they can find exceptional quality, service and innovation. A few days ago, along with the entire leadership team, I had the pleasure to have a breakfast meeting at the Zegna Montenapoleone flagship store. We met with the talented people working in this unique store, and in all of them I sensed the enthusiasm taking place across our Group. One person asked me what motivates me every morning. And my answer was simple: I have a passion for what we do. I also have the confidence that, thanks to our talented people, our clear vision, and our unique heritage, any challenge we face can be turned into an opportunity.” Gildo Zegna, Chairman and CEO of the Ermenegildo Zegna Group

Ermenegildo Zegna Group today announced profit of €31.3 million in H1 2024 compared to €52.1 million in H1 2023. In H1 2024, Adjusted EBIT was equal to €80.9 million compared to €119.9 million in H1 2023. Ermenegildo “Gildo” Zegna, Group Chairman and CEO, said: “The first half of 2024 was marked by important investments in all three of our brands to further strengthen and foster ongoing value creation for each of them. We continued to double down on the successful Zegna One Brand Strategy, recently exemplified by the VILLA ZEGNA event in New York. We have taken decisive actions to reinforce the Thom Browne organization both at HQ and in key regions. And, at TOM FORD FASHION, we recently announced Haider Ackermann as the new TOM FORD Creative Director – a pairing that we are confident will take the brand to new heights. I believe these steps are what is needed for our Group as the luxury industry goes through an important normalization phase and continues to face macroeconomic and geopolitical uncertainties around the world. Our first half operating results – with Adjusted EBIT Margin at 8.4% vs. 13.3% in H1 2023 – were also affected by our decision to continue investing in key projects, some of which were concentrated in the first six months of the year. Along with these investments, we have also implemented cost controls while continuing to operate with appropriate caution. Even though the overall environment is expected to remain even more challenging, I am confident that our projects and actions are the right ones to unleash the untapped long-term potential of all three of our brands.” Read more on: https://lnkd.in/d_TVqChC

"For us, the most innovative companies are the ones that understand that to be FAST you need to think SLOW", Gildo Zegna, Chairman and CEO of the Ermenegildo Zegna Group #ZEGNA

“The TOM FORD fashion business has long had tremendous growth potential. The appointment of Haider as the brand’s new Creative Director will further strengthen the team we are building and makes me even more confident in the future of TOM FORD FASHION” Gildo Zegna, Chairman and CEO of the Ermenegildo Zegna Group.

Ermenegildo Zegna Group today announced unaudited revenues of €960.1 million for the first half of 2024, +6.3% YoY from €903.1 million in the first half of 2023 (-2.7% organic). In the second quarter revenues reached €497.0 million, +4.7% YoY and -0.4% organic. Gildo Zegna, Chairman and CEO of the Ermenegildo Zegna Group, said: “In the first half of the year our Group reached €960 million of revenues with 6% growth and an improved organic performance in the second quarter. Zegna continued to deliver robust performance with a +5.9% organic growth, driven by the DTC channel, up double-digit in EMEA and in the U.S. These results confirm that we are successfully delivering on ZEGNA’s evolution. At Thom Browne, Inc. we are focusing on the strategic projects crucial to unlocking the brand’s long-term potential. The couture show in Paris confirmed Thom’s extraordinary talent. At TOM FORD FASHION, we have just announced that Peter Hawkings is stepping down as Creative Director of the brand and his successor will be announced in the near future. As we look to the next phase of the brand’s development, I am today even more optimistic about the bright future of this business. Looking ahead, I remain fully confident in the strategy we have put in place and the trajectory we are on. Our Group is a custodian of three authentic brands, each with unexplored long-term growth potential. We all recognize that 2024 will remain challenging, which is why we have been working on cost control initiatives across the Group. Nevertheless, we will continue to act with perseverance and firmness, combined with foresight and vision, to pursue our long-term ambitions.” Read more on: https://lnkd.in/d64b6QXR

As part of The Fashion Pact, Ermenegildo Zegna Group is committed to 100% renewable energy across its own operations by 2030 but this is not possible to do it alone. That’s why the Group is proud to have partnered with like-minded Fashion Pact allies to co-create the largest collective renewable energy purchase agreement in the fashion industry.   #RenewableEnergy #Renewables #ClimateChange #Fashion #SustainableFashion #Collaboration

Last Monday Thom Browne, Inc. unveiled its second-ever couture collection in Paris, the perfect expression of modern tailoring. the toile as the source text… the toile as the final garment… sculptural works in progress reveal the beauty in the process… heritage techniques are realized, without compromise, in muslin… classic ideas, reconceptualized… couture is the olympics of fashion... thom browne couture 2024 collection. Ermenegildo Zegna Group #annacleveland #thombrowne #thombrownecouture

ZEGNA IS TIMELESS LUXURY “With the summer 2025 fashion show, Zegna continues its legacy of innovation, with a timeless and iconic collection produced with the finest raw materials and at the highest quality. I am extremely proud that the Oasi Lino collection is made from 100% traceable linen fibers.” Ermenegildo Zegna, Chairman & CEO of Ermenegildo Zegna Group #OASILINO #ZEGNASUMMER25