Luxury group Zegna's fourth-quarter revenues rise 2.9%, pushed by U.S. sales

Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Headlines

Posted By Global Banking and Finance Review

Posted on January 27, 2025

Luxury group Zegna's fourth-quarter revenues rise 2.9%, pushed by U.S. sales

MILAN (Reuters) - Revenues at Italian luxury group Ermenegildo Zegna rose 2.9% on an organic basis in the last three months of the year, with double-digit growth in the Americas outweighing an 11% sales drop in China, it said on Monday.

"We expect 2025 to play out differently across various geographies," Chairman and CEO Ermenegildo Zegna said in a statement.

While the group has seen a "solid performance" in the Americas and the Europe, Middle East and Africa region in early January, "we also believe that there will be ongoing volatility with respect to consumer demand in China", he said.

Full-year revenues at the company, whose brands include Tom Ford, Thom Browne and ZEGNA, fell 1.9% on an organic basis to 1.95 billion euros ($2.05 billion), beating a company-provided revenue consensus of 1.91 billion euros.

Sales were sustained by the group's main brand ZEGNA, while Thom Browne's sales were down.

Last week Burberry reported a smaller than expected 4% drop in quarterly comparable store sales. Sales at Richemont jumped 10% to 6.2 billion euros in the fourth quarter, well ahead of analyst expectations for a 1% increase.

($1 = 0.9512 euros)

(Reporting by Elisa Anzolin; Editing by Cristina Carlevaro and Jan Harvey)

Recommended for you