Luxury group Zegna posts 19.3% jump in FY organic sales

Ermenegildo Zegna NV

05/04/2024 12:25

April 5 (Reuters) - Italy's Ermenegildo Zegna  JN0.F 
posted a 19.3% increase in full-year organic revenue on Friday
and proposed a 20% hike in its annual dividend, helped by robust
demand for its luxury products.  
    The family-owned fashion group, which controls menswear
brand Zegna, as well as the U.S. labels Thom Browne and Tom Ford
Fashion, saw a 24% increase in Greater China revenue during the
period.
    "We are on track with the integration of the Tom Ford
Fashion business, which is enriching our unique proposition in
luxury glamour" Chairman and CEO Ermenegildo Zegna said.
    The company's full-year revenue reached 1.9 billion euros
($2.06 billion) in 2023 and it has proposed a dividend of 0.12
euros($0.1300) per share.     
    Zenga, which debuted on Wall Street in late 2021, said its
EBIT reached 220 million euros in 2023, compared to 157.7
million euros in the prior year.
    
    


($1 = 0.9230 euros)

 (Reporting by Gursimran Kaur in Bengaluru; Editing by Ravi
Prakash Kumar)
 ((GursimranKaur.Mehar@thomsonreuters.com;))