The Ermenegildo Zegna Group had more than 7,000 employees in 2023. Credit: Andrei Antipov/Shutterstock.

Italian luxury fashion house Ermenegildo Zegna Group has reported a 6.3% year-on-year (YoY) increase in revenue for the first half of 2024 (H1), reaching €960.12m from €903.05m in H1 2023.  

The company saw growth across its ZEGNA and Tom Ford Fashion segments, despite a decline in its Thom Browne segment. 

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The Zegna segment, which includes the ZEGNA brand and textiles, reported a 2.5% increase to €660.53m from €644.31m in H1 2023. 

Within this, the ZEGNA brand itself grew by 4.6% to €566.06m, propelled by strong performance in the US and in the Europe, Middle East and Africa (EMEA) markets. 

The Thom Browne segment experienced a 19.4% decrease in revenue, down to €166.72m from the previous year’s €206.95m.  

In contrast, the Tom Ford Fashion segment surged by 132%, achieving €148.49m in revenue against €64.01m in the same period of the previous year. 

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During this period, the direct-to-customer revenues of Ermenegildo Zegna also saw a notable rise of 14.8%, amounting to €669.59m compared to €583.38m in H1 2023. 

Regionally, the Americas led with a 29.4% increase in revenue, and EMEA achieved a 4.3% growth. 

For the second quarter of 2024 alone, Ermenegildo Zegna’s revenue was €496.96m, a 4.7% YoY increase from €474.74m in Q2 FY23. 

The Zegna segment’s quarterly revenue rose by 3.3% to €335.63m, driven by the ZEGNA brand’s robust performance.  

Although Thom Browne’s revenue decreased by 7.2% to €87.51m, Tom Ford Fashion enjoyed a 30.4% rise to €83.47m. 

Ermenegildo Zegna Group chairman and CEO Ermenegildo “Gildo” Zegna said: “We all recognise that 2024 will remain challenging, which is why we have been working on cost control initiatives across the group. Nevertheless, we will continue to act with perseverance and firmness, combined with foresight and vision, to pursue our long-term ambitions.”