Italy’s Zegna says on track for mid-term goals after rise in Q3 revenue

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Reuters API


Oct 24, 2023

Italian fashion group Ermenegildo Zegna said its latest results confirmed the company was on track to achieve its medium term, end-2025 goals, after reporting a 20.8% rise in third-quarter revenues.

Zegna – Zegna

By the end of the 2025 fiscal year the New-York listed group is aiming for annual revenues to exceed 2 billion euros ($2.12 billion) and for the adjusted EBIT (earnings before interest and tax) margin to reach at least 15%, excluding the Tom Ford Fashion segment.

“I am confident that the continued progress of the Zegna rebranding, the expansion opportunities for Thom Browne, and the integration and evolution of Tom Ford Fashion all provide valuable tailwinds despite the current global operating environment,” Chairman and CEO Gildo Zegna said in a statement, referring to the group’s different brands.

Revenues in the July-September period were up to 431 million euros ($457.85 million) year-on-year, the statement added.


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