Italy's Zegna H1 revenue tops estimates on DTC, namesake brand growth

Ermenegildo Zegna NV

23/07/2026 11:42

    

    Overview
  
Italy luxury menswear group's H1 2026 revenue rose 6.4% yr/yr, beating analyst expectations
Q2 2026 group revenue up 10.3% yr/yr, driven by strong DTC momentum and ZEGNA brand growth
Company's wholesale revenues declined as focus shifted to retail-first, direct-to-consumer strategy

    

    Outlook
  
Company did not provide specific financial guidance for the current or future periods

    

    Result Drivers
  
DTC MOMENTUM - Double-digit organic growth in direct-to-consumer sales across all brands, reflecting shift to retail-first strategy
ZEGNA BRAND GROWTH - ZEGNA brand led group performance with strong DTC gains and increased client engagement, especially in the Americas
WHOLESALE DECLINE - Wholesale revenues fell as group continued to shift focus away from wholesale channel

    
Company press release: ID:nBw37TS9ja

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
H1 Revenue
Beat
EUR 987.30 mln
EUR 961.24 mln (4 Analysts)

    

    Analyst Coverage
  
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories peer group is "buy"
Wall Street's median 12-month price target for Ermenegildo Zegna NV is $14.00, about 0.9% below its July 22 closing price of $13.88
The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 22 three months ago

    

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)