Italian luxury group Ermenegildo Zegna’s adjusted operating profit contracted by 16.4 per cent to €184 million ($198 million) in 2024, as the group stepped up investments despite a challenging environment.
However, the group’s adjusted earnings before interest and tax (EBIT) exceeded analysts' expectations to around €175 million.
Having witnessed a 9 per cent decline in sales last year to €1.95 billion due to weakness in China, the group expects revenues to range between €2.2 billion to €2.4 billion in 2027. The group’s adjusted EBIT is expected to reach €250-300 million by the same year.
The company continues to adopt a cautious approach while also remaining committed to delivering on our projects, says Gildo Zegna, Chairman and CEO. Protecting its brands’ identity remains the first priority for the company, adds Zegna. Besides Zegna, the group also owns other fashion brands like Thom Browne and Tom Ford Fashion.
