Ermenegildo Zegna’s First Half Operating Profit Jumps 45%

Italian fashion group Ermenegildo Zegna said on Wednesday its first-half adjusted operating profit grew 45 percent to €120 million ($129 million).

Group revenues reached €903 million in the first six months of the year, up by 24 percent, as previously announced in July.

“We are encouraged by the strong growth we are seeing in the United States and EMEA but also acknowledge the impact of a milder recovery in Greater China”, chairman and chief executive Gildo Zegna said in a statement.

The group said it will hold a capital market day on Dec. 5 to unveil its updated medium and long-term financial goals, including for the Tom Ford Fashion segment.

By Elisa Anzolin; Editor: Keith Weir

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Zegna Group Reports €65M Profit Amid ‘Quiet Luxury’ Boom

Ermenegildo Zegna Group is currently seeing double-digit growth in stores after hitting €1.5 billion in sales last year. With a slowdown expected for luxury brands, chairman Gildo Zegna tells BoF the recently rebranded menswear giant is well-positioned to outperform.