“double-digit performance of the retail channel in 2023”- Corriere.it

Straight bar on course towards 2 billion in turnover and 15% of adjusted EBIT by 2025 excluding the Tom Ford Fashion business. The Ermenegildo Zegna group, owner of the Zegna and Thom Browne brands, closed 2022 with «solid financial results in line with the strategic plan». Among the points in evidence, revenues close to 1.5 billion (+15.5%), adjusted ebit at 157.7 million (+6%), profit of 65.3 million and the proposed coupon of 0.10 euro per share (+11%).

“This solid performance in 2022 reflects the strong momentum and desirability of our brands and the strength and success of our strategy and execution,” he said. affirmed Ermenegildo «Gildo» Zegna, president and managing director of the group. A solidity demonstrated by the return of profit, despite the impact of Covid in the Greater China region during the second and fourth quarters. In detail, the Zegna brand recorded revenues of 1.17 billion, an adjusted EBIT of 141.5 million euros (+7%) and a margin of 12% mainly determined by the price repositioning as part of the Zegna One strategy Brands. «Last year – underlined the president – we embarked on a journey of rebranding, presenting Zegna One Brand. Being only in the second season and having just launched a series of new initiatives, we are only at the beginning ». Thom Browne’s sales, on the other hand, generated €330.89 million with an adjusted EBIT of €48.1 million in 2022, up 26%.

2023 also started off on the right foot with a double-digit trend in the retail channel. “I am optimistic that the reopening of China and the positive response to our collections from customers around the world will continue to drive the growth of our business – added Gildo -. However, current financial uncertainties and an ever-changing global environment can affect consumers’ buying habits.”
Spotlight on the completion of the operation Tom Ford Fashion business together with The Estée Lauder Companies, announced last November and scheduled for the second quarter. “Following the completion of this transaction, we will acquire and operate the Tom Ford fashion house assets under a long-term license from The Estée Lauder Companies. I look forward to sharing more details about our plans and ambitions for this exceptional brand once the transaction closes, likely in the second quarter of this year.”