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Zegna reports 1.7% revenue growth despite Q3 slowdown

Ermenegildo Zegna NV reported unaudited revenues of 1.4 billion euros (approximately $1.45 billion) for the first nine months of 2024, reflecting a 1.7% YoY increase, though third-quarter revenues fell to 397.3 million euros (about $420 million), down 7.8% from the previous year. Chairman and CEO Gildo Zegna highlighted the positive performance of the Zegna brand, particularly through direct-to-consumer channels, despite a slowdown in overall revenue. The Zegna segment saw revenues rise to 944.4 million euros (around $1 billion), with the Zegna brand contributing 810.6 million euros (approximately $860 million), up 3.4% YoY. However, the Thom Browne segment experienced a significant decline in revenue, dropping 21.7% to 220.4 million euros (about $235 million). Looking ahead, Zegna acknowledged an uncertain environment, particularly in Greater China, but expressed confidence in the company’s strengthened brand portfolio and management.

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