MILAN – The Ermenegildo Zegna Group closed the second quarter ended June 30 with a double-digit increase in sales, which rose 10.3 percent to 517.1 million euros compared with the same period last year, reflecting a sequential acceleration across all brands, with Zegna leading the performance.
Sales of the Zegna brand gained 16.9 percent to 324.3 million euros, driven by its direct-to-consumer channel across all regions. Thom Browne revenues were flat at 64.9 million euros, offset by the ongoing rationalization of the wholesale channel, but grew 2.7 percent organically. Tom Ford Fashion sales rose 4.5 percent to 89.1 million euros, up 7.1 percent on an organic basis, reflecting the success of the spring collection designed by Haider Ackermann. The textile segment reported sales of 35.8 million euros, declining 3.6 percent.
The direct-to-consumer channel was up 16.4 percent to 410.9 million euros, with all three brands delivering double-digit growth, reflecting the group’s strategic decision to prioritize a retail-first business model and direct customer engagement.
All regions delivered solid growth, led by the Americas, with the Greater China region further strengthening in the quarter.
In the first half, group revenues were up 6.4 percent to 987.3 million euros, compared with 927.7 million euros in the same period last year. On an organic basis, they rose 9.3 percent.
Executive chairman Gildo Zegna expressed his pride in a performance that “reflects the strength of our client-centric model.” He touted Zegna’s ongoing deeper “client engagement with a milestone Villa Zegna event in Los Angeles in June, following a model developed over time on an authentic legacy and supported by our unique Italian filiera [pipeline]. I am equally encouraged by the performance of Thom Browne and Tom Ford Fashion. Their results confirm that the actions underway follow the right trajectory, although we are conscious that it is still the beginning of the journey and we must remain patient to see progress over time. As we move through the rest of the year, we remain determined and disciplined to invest in the right priorities to deliver on our ambitions.”
In the second quarter, the Europe, Middle East and Africa region recorded revenues of 177.1 million euros, up 1.3 percent, showing a robust DTC growth across all three brands, partially offset by the negative performance of the wholesale channel. The Middle East was positive in the second quarter, despite the challenges in the region. In the first half, EMEA represented 33 percent of the total.
The Americas registered sales of 165.3 million euros, up 20 percent, lifted by double-digit growth in the DTC channel across all brands. The region in the first half accounted for 31 percent of the total.
The Greater China area reported revenues of 112 million euros, up 12.2 percent, accelerating compared with the first quarter. In the first half, the region accounted for 24 percent of the total.
The rest of Asia-Pacific showed sales of 62.1 million euros, up 11.5 percent, driven by solid growth in all markets, especially in Korea and Japan. On an organic basis, revenue climbed 19.3 percent. In the first half APAC represented 12 percent of the total.
