Luxury group Zegna's fourth-quarter revenues rise 2.9%, pushed by U.S. sales (updated)

Ermenegildo Zegna NV

27/01/2025 12:48

(Adds details in paragraph 5, background in paragraph 6)
       MILAN, Jan 27 (Reuters) - Revenues at Italian luxury
group Ermenegildo Zegna  JN0.F  rose 2.9% on an organic basis in
the last three months of the year, with double-digit growth in
the Americas outweighing an 11% sales drop in China, it said on
Monday. 
    "We expect 2025 to play out differently across various
geographies," Chairman and CEO Ermenegildo Zegna said in a
statement. 
    While the group has seen a "solid performance" in the
Americas and the Europe, Middle East and Africa region in early
January, "we also believe that there will be ongoing volatility
with respect to consumer demand in China", he said.  
     Full-year revenues at the company, whose brands include Tom
Ford, Thom Browne and ZEGNA, fell 1.9% on an organic basis to
1.95 billion euros ($2.05 billion), beating a company-provided
revenue consensus of 1.91 billion euros.
    Sales were sustained by the group's main brand ZEGNA, while
Thom Browne's sales were down.
    Last week Burberry reported a smaller than expected 4% drop
in quarterly comparable store sales. Sales at Richemont jumped
10% to 6.2 billion euros in the fourth quarter, well ahead of
analyst expectations for a 1% increase.
    ($1 = 0.9512 euros)

 (Reporting by Elisa Anzolin; Editing by Cristina Carlevaro and
Jan Harvey)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))