Ermenegildo Zegna sales down 7% in third quarter as China weighs

Ermenegildo Zegna NV

22/10/2024 12:37

MILAN, Oct 22 (Reuters) - Organic revenues at
Ermenegildo Zegna  JN0.F  dropped 6.7% in the third quarter, hit
by a 22% decrease in its Greater China region, the Italian
luxury group said on Tuesday.
    Revenue totalled 397 million euros ($429.8 million) for the
June-September quarter.
    "Although third quarter revenues showed a slowdown for the
group, I am reassured by the continued positive performance of
the ZEGNA brand," Chairman and CEO Ermenegildo Zegna said in a
statement.
    "Looking ahead to the fourth quarter of 2024 and into 2025,
we continue to foresee an uncertain environment, particularly in
the Greater China Region," he added.
($1 = 0.9240 euros)

 (Reporting by Elisa Anzolin
Editing by Keith Weir)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))