The Italian fashion group Ermenegildo Zegna NV continued its growth path in the third quarter of the 2023 financial year. The company benefited from solid sales increases for the Zegna and Thom Browne brands as well as the takeover of Tom Ford Fashion, which was completed at the end of April.
In the period from July to September, group sales reached 431.1 million euros, according to an interim report published on Tuesday. This exceeded the level of the previous year’s quarter by 20.8 percent. Adjusted for exchange rate changes, revenues grew by 25.0 percent; 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 – they increased by 11.3 percent.
The Zegna segment achieved an increase in sales of 3.0 percent (organic +12.7 percent) to 297.8 million euros, the Thom Browne division increased by 6.3 percent (organic +8.5 percent) to 73.6 million Euro. The newly acquired Tom Ford Fashion division contributed almost 74.6 million euros to group sales.
In the first nine months, the Ermenegildo Zegna Group’s sales amounted to around 1.33 billion euros, which corresponded to an increase of 22.9 percent compared to the corresponding previous year’s level. Adjusted for currency effects, revenues increased by 24.8 percent and on an organic basis they grew by 19.2 percent.