Not least thanks to a surprisingly successful final quarter, the Italian fashion group Ermenegildo Zegna NV closed the 2023 financial year with a significant increase in sales.
On Wednesday, the parent company of the Zegna, Thom Browne and Tom Ford Fashion brands announced that it achieved sales of around 1.90 billion euros last year. This corresponded to an increase of 27.6 percent (currency-adjusted +29.7 percent) compared to 2022. On an organic basis – i.e. adjusted for currency effects, acquisitions and changes in the licensing business as a result of the takeover of Tom Ford Fashion at the end of April – revenue increased 19.3 percent.
In the fourth quarter, the Ermenegildo Zegna Group was able to increase its growth rate once again compared to the previous months. In the months October to December, sales amounted to 570.4 million euros, exceeding the corresponding previous year’s level by 40.1 percent (currency-adjusted +42.9 percent, organically +19.6 percent).
All Group brands contributed to the significant increase for the year as a whole. At the core label Zegna, sales rose by 20.1 percent (currency-adjusted +22.3 percent) to 1.11 billion euros, the men’s fashion brand Thom Browne achieved an increase of 14.7 percent (currency-adjusted +18.0 percent) to 378 .4 million euros. The Tom Ford Fashion division has contributed 235.5 million euros to group sales since its consolidation on April 29th.