MILAN – The Ermenegildo Zegna Group’s strategic choice to put money into its direct-to-consumer community of shops continues to repay and delivered an acceleration in gross sales within the third quarter of the 12 months.
Within the third quarter ended Sept. 30, group natural revenues rose 3.6 p.c to to 398.2 million euros, in contrast with 397.3 million euros in the identical interval final 12 months, excluding the impression of fluctuations in foreign money change charges. At reported charges, gross sales rose 0.2 p.c.
Within the third quarter, the direct-to-consumer channel outperformed and grew 9.1 p.c organically in contrast with 6 p.c progress within the first half of the 12 months. Within the third quarter, all three manufacturers recorded strong natural progress within the channel: Zegna was up 7.4 p.c to 210.3 million euros; Thom Browne gross sales rose 10 p.c to 38.2 million euros, and Tom Ford Trend revenues jumped 16.4 p.c to 48 million euros.
Within the 9 months, natural revenues had been according to the identical interval final 12 months, amounting to 1.33 billion euros. At reported charges, gross sales decreased 2.3 p.c.
Gildo Zegna, chairman and chief government officer, touted the acceleration of the direct-to-consumer channel within the third quarter, and mentioned he was “happy with the continued progress of the Zegna model’s direct-to-consumer channel, led by the Americas and the EMEA area, and in addition delighted to see the excellent performances of Tom Ford Trend and Thom Browne, whose DTC channel grew by double digits on an natural foundation this quarter.”
He admitted that “wanting forward, we anticipate the atmosphere to stay difficult for our trade, with ongoing uncertainties in shopper demand and foreign money fluctuations.” Nevertheless, he continued, “the success of the latest Tom Ford and Thom Browne exhibits, the nice reception of the autumn/winter drops at Zegna and the various initiatives in our pipeline give me confidence that we are going to proceed to ship on our mid-term targets.”
Within the 9 months, the Zegna model reported natural progress of three.6 p.c to 819.8 million euros. Thom Browne gross sales decreased 17.8 p.c to 177.3 million euros and Tom Ford Trend was up 3.9 p.c to 218.7 million euros. Textile revenues had been down 4.6 p.c to 96.8 million euros.
“The work we’ve accomplished over the previous months—strengthening our management staff, constructing on our manufacturers’ fairness, and staying centered and in line with our strategic imaginative and prescient—is beginning to bear fruit,” the manager instructed WWD. “I do know our journey to take advantage of our manufacturers’ full potentials continues to be at the start. Early constructive indicators are encouraging, nevertheless we nonetheless have vital work to do in entrance of us. We’re prepared, the staff is constructed, the actions are clear. We’re working united as household and as a bunch.”
Natural gross sales of the direct-to-consumer channel within the 9 months had been up 7 p.c to 994.7 million euros, accelerating within the third quarter, up 9.1 p.c. The wholesale channel fell 23.4 p.c to 221.2 million euros.
As of Sept. 30, the group had 670 shops, of which 472 had been immediately operated.
Thom Browne Spring 2026 Prepared-to-Put on Assortment at Paris Trend Week
Courtesy of Thom Browne
Manufacturers’ Efficiency
“I’ve been happy with the attractive Tom Ford vogue present in Paris, the second by Haider Ackermann, and with the model’s DTC efficiency this quarter, which grew by 16 p.c,” mentioned Zegna. Ackermann was named inventive director of Tom Ford Trend in September final 12 months, succeeding Peter Hawkings.
He added that the autumn assortment was “well-received, and the work we’re doing to raise our retail and CRM capabilities—whereas constructing a stronger staff—is beginning to repay. We’re simply at the start of our journey. We all know it’d require time, and the trail is probably not linear. However the imaginative and prescient is evident. Now, our focus have to be on execution.”
Zegna took on Ford’s vogue as a part of the Estée Lauder Cos. deal to purchase the model in 2022, which valued the wonder and vogue model at $2.8 billion.
Tom Ford Spring 2026 Prepared-to-Put on Assortment at Paris Trend Week
Courtesy of Tom Ford
Zegna touted the progress made at Thom Browne, underscoring how the model’s latest spring present this month in Paris and the occasions held in Tokyo to rejoice the opening of its new Ginza flagship “not solely spotlight the power of Thom Browne’s neighborhood—properly past the Japanese market—but in addition affirm the model’s evolution right into a broader life-style proposition, whereas remaining true to its DNA.”
Referring to the model’s CEO Sam Lobban, Zefna mentioned he “has simply begun his journey, specializing in elevating the retail expertise and enhancing the merchandising provide. It is going to take time, however I do know he brings a transparent imaginative and prescient and a well-defined plan to execute.”
As reported, Thom Browne CEO Rodrigo Bazan exited the model on Aug. 31, succeeded by Lobban, beforehand government vice chairman and common merchandising supervisor for attire and designer at Nordstrom. Bazan had been main Thom Browne since 2016, rising its gross sales threefold.
Efficiency by Geography
Within the third quarter, all key areas confirmed improved performances in natural phrases. The Americas continued to outperform the remainder of the areas with 13 p.c natural progress.
Within the 9 months, the Europe, Center East and Africa market posted an natural lower of 0.6 p.c to 480 million euros, representing 36 p.c of the full. Within the third quarter, natural gross sales within the space had been up 2.6 p.c, primarily pushed by double-digit progress within the DTC channel at Zegna and Tom Ford Trend, partially offset by the unfavourable efficiency within the wholesale channel.
“We’ve simply reopened our utterly renewed Zegna retailer in Dubai, now dwelling to our fourth Salotto—following Beijing, Shanghai, and Singapore. This by-appointment-only idea marks a big milestone. Dubai is the primary retailer in our community, and I’m assured that this refurbishment, along with the Salotto, will additional reinforce its international management. The Gulf area stays a key strategic space for us and for the sector—it’s considered one of our pillars for progress,” mentioned the manager.
The U.S. marketplace for Zegna “stays one of many quickest markets and a pillar of our technique. The brand new retailer within the Miami Design District luxurious mall is one other key asset that may additional strengthen our progress within the area,” mentioned the manager.
Within the 9 months, natural gross sales within the Americas rose 10.4 p.c to 384.1 million euros, representing 29 p.c of whole revenues.
The Larger China area recorded an natural lower of 12.7 p.c to 300.5 million euros, accounting for 23 p.c of the full. The third quarter confirmed a sequential enchancment, reducing 6.5 p.c in comparison with the second quarter, primarily pushed by Thom Browne’s sturdy restoration within the area.
The remainder of Asia Pacific rose 3.3 p.c to 159.1 million eros, with Japan and Korea sequentially bettering within the third quarter.
“China confirmed encouraging indicators of enchancment within the third quarter throughout all our manufacturers,” mentioned Zegna. “Nevertheless, shopper demand stays risky, and we proceed to method planning with warning—particularly for 2026. Wanting forward, we assume the market is getting into a ‘new regular’ part, the place progress charges might be extra balanced in comparison with the distinctive ranges seen earlier than 2024. This shift requires considerate execution and long-term dedication, and we’re ready to navigate it with readability and self-discipline.”
