Italian luxury conglomerate Ermenegildo Zegna has announced its preliminary financial performance data for the fiscal year 2023, reporting a remarkable 27.6 percent year-on-year increase in sales, totaling $2.13 billion (1.9 billion euros). The fourth quarter saw an even higher growth rate of 40 percent, with sales reaching $638.4 million (570 million euros). During the reporting period, both the Ermenegildo Zegna brand and Thom Browne's direct retail businesses experienced significant growth, particularly in the Chinese, European, and American markets. Following the release of the financial report, Ermenegildo Zegna's stock price surged by over 8 percent, resulting in a current market value of approximately $3.1 billion.