The group’s revenue rose to €470.2 million (~$550 million) in the first quarter (Q1), up 2.5 per cent year on year (YoY) and 7.4 per cent on an organic basis, supported by strong direct-to-consumer (DTC) performance.
Ermenegildo Zegna Group has reported revenue of €470.2 million (~$550 million) in Q1 2026, up 2.5 per cent YoY and 7.4 per cent organically, driven by strong DTC growth.
DTC sales rose 7.8 per cent to €371.9 million (~$435.12 million), while wholesale fell 19.1 per cent.
Zegna led brand growth, with the Americas being the strongest region.
The group will continue its retail-first strategy.
Ermenegildo “Gildo” Zegna, executive chairman of the Group, said: “We entered 2026 with growing momentum across all our brands.” He emphasised the continued strength of the retail channel and noted that the Americas delivered another quarter of double-digit organic growth.
DTC growth offsets wholesale decline; Zegna leads brand performance
DTC revenues increased 7.8 per cent to €371.9 million (~$435.12 million), with organic growth of 14.2 per cent, accounting for 85 per cent of branded product sales. All three brands, Zegna, Thom Browne and Tom Ford Fashion, recorded solid DTC momentum across regions.
In contrast, wholesale revenues declined 19.1 per cent to €64.3 million, reflecting the group’s deliberate move to reduce reliance on the channel and enhance brand control, exclusivity and pricing power, Zegna Group said in a press release.
By brand, Zegna remained the primary growth engine, with revenues rising 5.9 per cent to €310.3 million (~$363.05 million), or 11.3 per cent on an organic basis. The brand saw strong traction in the Americas and EMEA, alongside a return to growth in China (Including Hong Kong, Macau, and Taiwan).
Thom Browne revenues declined 9.4 per cent to €58.2 million, although organic performance was more resilient at -3.0 per cent, supported by strong DTC growth and the successful launch of its collaboration with Asics.
Tom Ford Fashion posted modest growth of 0.4 per cent to €67.7 million, or 5.4 per cent organically, aided by retail strength and brand visibility following its March fashion show.
Americas leads growth; China rebounds, EMEA steady amid mixed trends
Region-wise, Americas emerged as the strongest region, with revenues rising 9.6 per cent to €137 million and 17.5 per cent organically, driven by robust demand across all brands. China returned to growth, up 0.7 per cent (5.3 per cent organic) to €124.1 million, indicating improving momentum.
Europe, Middle East, and Africa (EMEA) revenues were broadly stable at €152.9 million, down 0.8 per cent but up 1.4 per cent organically, as DTC gains were offset by wholesale weakness. The rest of Asia-Pacific recorded a slight decline of 0.6 per cent to €55.5 million, though organic growth stood at 7.7 per cent, led by strong performance in Japan and South Korea.
The group’s textile segment also posted steady growth, with revenues rising 4.3 per cent to €31.2 million, while ‘other’ revenues declined sharply due to lower third-party brand agreements.
Looking ahead, Zegna said it will maintain its ‘think slow, act fast’ approach to navigate evolving market conditions, while remaining focused on long-term strategic objectives centred on retail expansion, brand elevation and operational agility.
Fibre2Fashion News Desk (SG)
