Ermenegildo Zegna NV, an Italian luxurious trend home, has introduced unaudited income of €1,946.6 million (~$2,032.6 million) for full fiscal 2024 (FY24), a rise of two.2 per cent year-over-year (YoY), although natural progress declined by 1.9 per cent.
Area-wise, Europe, the Center East, and Africa (EMEA) recorded revenues of €680.3 million (~$710.3 million), up 3.3 per cent YoY (+0.4 per cent natural), representing 35 per cent of the group’s income. Revenues within the Americas amounted to €524.8 million (~$547.8 million), +15.4 per cent YoY (+6.8 per cent natural), representing 27 per cent of the group’s income, Ermenegildo Zegna mentioned in a press launch.
Ermenegildo Zegna NV reported FY24 revenues of €1,946.6 million (+2.2 per cent YoY, -1.9 per cent natural).
This fall FY24 income rose 3.3 per cent to €589.2 million (~$615.0 million) (+2.9 per cent natural).
Americas (+14.6 per cent), EMEA (+5.9 per cent), and APAC (+10.5 per cent) grew, whereas Higher China declined (-11.4 per cent).
Zegna expects continued volatility in China.
In FY24, the Higher China (GCR) recorded revenues of €509.4 million, down by 14.5 per cent YoY and natural lower of 13.7 per cent, accounting for 26 per cent of the group’s income. In the meantime, revenues in the remainder of Asia-Pacific (APAC) grew to €229.9 million, +19.4 per cent YoY (+6.9 per cent natural), representing 12 per cent of the group’s income.
Phase-wise, Zegna reported income enhance of two.0 per cent in FY24, reaching €1,348.8 million in comparison with €1,322.0 million in FY23. The natural progress was barely increased at 2.5 per cent. Thom Browne, nonetheless, skilled a decline, with revenues falling by 17.2 per cent in FY24 to €314.8 million, in comparison with €380.3 million in FY23. The natural lower was even steeper at 20.8 per cent. Tom Ford Trend noticed robust reported progress, with FY24 revenues rising by 33.5 per cent to €314.5 million, up from €235.5 million in FY 2023. Nonetheless, natural revenues declined barely by 0.7 per cent.
Ermenegildo Zegna in its fourth quarter (This fall) FY24 generated a income of €589.2 million (~$615.0 million), up by 3.3 per cent YoY, with natural progress of two.9 per cent.
Area-wise, revenues within the Americas rose to €166.6 million, up 14.6 per cent YoY (+15.0 per cent natural) in This fall. The EMEA area recorded a 5.9 per cent enhance in revenues to €194.7 million, with natural progress at 5.3 per cent, reflecting regular efficiency within the area. The Americas confirmed robust progress, with revenues rising 14.6 per cent to €166.6 million, supported by 15.0 per cent natural progress, highlighting sturdy demand.
Conversely, the Higher China Area confronted a decline, with revenues dropping 11.4 per cent to €156.3 million, with natural progress additionally declining on the identical price. The remainder of APAC noticed a rise of 10.5 per cent in its income to €71.1 million, with 8.1 per cent natural progress, showcasing regular enlargement within the Asia-Pacific markets exterior Higher China.
Phase-wise, Zegna’s revenues rose by 5.0 per cent to €404.4 million, with an natural progress of three.9 per cent in This fall FY24. For Thom Browne, revenues dropped by 4.3 per cent to €94.4 million, with an natural decline of three.8 per cent. Tom Ford Trend in This fall FY24, the model reported a 3.7 per cent enhance in revenues to €100.6 million, with an natural progress of three.8 per cent.
“Beyond the numbers, I feel confident in our strategic projects pipeline. The recent ZEGNA fashion show was acclaimed as one of the strongest ever for the brand with the presentation of our ultra-luxury Vellus Aureum, made by the finest wool, developed thanks to our know-how and unique Filiera,” mentioned Gildo Zegna, chairman and chief-executive officer (CEO) of the Ermenegildo Zegna NV.
“We expect 2025 to play out differently across various geographies. While we have seen solid performance in the Americas and EMEA in the first weeks of January, we also believe that there will be ongoing volatility with respect to consumer demand in China. We are prepared to navigate these challenges with the guidance of our talented team and a sharp focus on our priorities: continuing to build on brand equity, focusing investments on key strategic projects and doubling down on our existing strengths,” added Zegna.
