Zegna Group Reports Strong Sales Growth in Q1 2024

Zegna Group has announced a significant rise in sales during the first quarter of 2024, with revenues increasing by 8.1% to €463.2 million. This growth is notably driven by a robust performance in the Americas and an impressive surge in direct-to-consumer sales.

📈 Financial Highlights:

• Americas Lead Growth: Sales in the Americas saw a remarkable double-digit increase, demonstrating Zegna's growing influence and strategic expansion in the region.

• Direct-to-Consumer Success: Direct-to-consumer channels flourished, with a 20.4% increase compared to the previous year, bolstered by the integration of the Tom Ford Fashion business.

🔍 Strategic Developments:

• Tom Ford Fashion Expansion: With new stores set to open in Rome and Beijing, Tom Ford Fashion continues to be a key growth driver for the group.

• Despite broader market challenges, Zegna’s focus on high-end markets and enhanced personalization and customer service continues to pay dividends.

🏛️ Corporate Initiatives:

• The group continues to execute its Zegna One Brand strategy and enhance the customer experience across all touchpoints.

• Following the success of the Oasi Zegna immersive exhibition in Milan, similar events are planned for Shanghai and New York, highlighting the group's commitment to innovation and heritage.

🌐 Market Outlook:

• Zegna remains optimistic about the rest of the year, with clear strategies in place to strengthen brand equity and achieve ambitious revenue growth targets.