Italian luxurious style home Ermenegildo Zegna Group has reported revenues of €458.8 million (~$489.5 million) within the first quarter (Q1) of 2025 ended March 31, reflecting a slight decline of 0.9 per cent in comparison with €463.2 million in Q1 2024. On an natural foundation, revenues declined by 1.2 per cent. Regardless of the slight dip, the group showcased notable strengths in its direct-to-consumer (DTC) channel and promising efficiency from the Zegna and Tom Ford Vogue manufacturers.
The direct-to-consumer (DTC) channel remained the group’s progress engine, rising 5.2 per cent YoY to €345.1 million (~$368.4 million) and representing 81 per cent of branded product revenues. The wholesale revenues of the group dropped sharply by 19.8 per cent YoY to €79.5 million, down 19.4 per cent natural.
Ermenegildo Zegna Group has reported revenues of €458.8 million (~$489.5 million) in Q1 2025, down 0.9 per cent YoY.
Robust DTC progress of 5.2 per cent offset wholesale decline.
Zegna and Tom Ford Vogue manufacturers led positive factors, whereas Thom Browne noticed declines.
Americas grew 9.5 per cent however Higher China Area noticed 11.6 per cent decline.
The Group expanded its DTC footprint to 465 shops globally.
Revenues for the Zegna phase in Q1 2025, which incorporates the Zegna model, Textile, and different revenues—amounted to €333.3 million, up 2.6 per cent YoY, and up 2.2 per cent natural, Zegna Group stated in a press launch.
Zegna model revenues within the quarter stood at €292.9 million, a rise of three.6 per cent YoY, and natural improve of three.1 per cent, pushed by strong progress within the DTC channel.
In the meantime, Tom Ford Vogue additionally noticed a gentle rise, with revenues reaching €67.5 million, up 3.8 per cent YoY, pushed by a ten per cent YoY DTC surge and heightened curiosity following Haider Ackermann’s March style present.
The textile phase recorded revenues of €29.9 million the quarter, down 10.0 per cent YoY, and natural decline of 9.3 per cent, reflecting a discount in orders from manufacturers exterior the group.
Different revenues, which primarily embody revenues from gross sales to third-party manufacturers, had been €4.3 million in Q1 2025, in comparison with €2.8 million in Q1 2024, a rise of 52 per cent YoY, organically up 51.2 per cent, positively affected by totally different timing in deliveries.
Regionally, the Americas outperformed, delivering a 9.5 per cent income improve to €125.0 million (+8.9 per cent natural), accounting for 27 per cent of whole group gross sales.
In distinction, the Higher China Area (GCR) remained challenged, with revenues down 11.6 per cent YoY (-12.4 per cent natural) to €123.3 million. The subdued luxurious client setting and tender footfall in malls impacted all three manufacturers.
Europe, Center East, and Africa (EMEA) generated €154.1 million in income, down 1.6 per cent YoY, with strong Zegna and Tom Ford Vogue efficiency countered by a Thom Browne dip. In the meantime, the remainder of Asia Pacific (APAC) area posted 6.5 per cent progress, led by Japan’s retail power.
As of March 3, 2025, the group operated 465 straight managed monobrand shops throughout Zegna, Thom Browne and Tom Ford Vogue, up from 417. The enlargement helps the Group’s rising emphasis on DTC, with retailer openings in Saudi Arabia, Spain, and the US, added the discharge.
“Despite the ongoing challenges in our sector, all our three brands have reported positive performance in the strategic DTC channel. We are encouraged by these early positive results but also mindful of the recent geopolitical and economic uncertainties. And while we have not observed significant changes in customers’ behaviour across our brands, we remain vigilant, agile, and focused on our strategic priorities knowing that what truly matters is the strength of our brands and our unwavering commitment to staying close to our customers,” stated Ermenegildo ‘Gildo’ Zegna, chairman and chief government officer (CEO) of the Group.
