The Italian fashion group Ermenegildo Zegna NV was able to slightly increase its sales in the third quarter of the 2025 financial year, returning to growth after losses in the first half of the year. This emerges from preliminary figures that the company published on Thursday.
Accordingly, group sales in the period from July to September amounted to 398.2 million euros. This was 0.2 percent higher than in the same quarter of the previous year. On an organic basis – i.e. adjusted for currency effects and changes in the group portfolio and licensing business – revenue grew by 3.6 percent.
The strategic focus on our own retail is having an impact
In its own retail sector, sales rose by 4.5 percent (organically +9.1 percent) to 296.7 million euros. That was just enough to compensate for a decline of 15.5 percent (organically -14.7 percent) to 67.0 million euros in the wholesale business.
The company justified the significant losses in this sales channel with, among other things, the stronger strategic focus on its own retail and targeted restrictions in wholesale sales.
The Zegna division achieved an increase in sales of 2.5 percent (organic +5.5 percent) to 290.9 million euros, the Tom Ford Fashion segment increased by 0.9 percent (organic +4.3 percent) to 66.0 million euros. However, revenue for the Thom Browne brand fell by 9.9 percent (organically -4.8 percent) to 48.2 million euros.
The group is achieving growth in Europe and America
Sales development was also slowed in the third quarter by weak demand in Greater China. Revenue there fell by 10.8 percent (organically -6.5 percent) to 77.4 million euros. In the remaining markets of the Asia-Pacific region they fell by 2.5 percent to 47.6 million euros (organic +3.0 percent).
However, there was an upward trend in the EMEA region, which includes Europe, the Middle East and Africa. Quarterly sales there were 151.1 million euros, 1.4 percent (organically +2.6 percent) above the corresponding previous year’s level. Developments in America were also positive. Sales there increased by 8.2 percent (organically +12.9 percent) to 121.3 million euros.
CEO Ermenegildo Zegna sees the company on track despite difficult conditions
In the first nine months of the current year, group sales amounted to almost 1.33 billion euros. This meant it was 2.3 percent (organically -0.4 percent) below the corresponding previous year’s level.
Given the recent progress, CEO and Chairman Ermenegildo Zegna expressed cautious optimism: “Looking forward, we expect the environment for our industry to remain difficult due to ongoing uncertainties regarding demand and currency fluctuations,” he said. “However, the success of the recent Tom Ford and Thom Browne fashion shows, the good response to our Zegna autumn/winter collection and the numerous projects we have in the pipeline make me confident that we will continue to achieve our medium-term goals.”