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Italian Fashion Group Zegna Raises Guidance for 2022

Ermenegildo Zegna | Source: Shutterstock

Italian fashion group Ermenegildo Zegna raised its full-year guidance on Friday after reporting a 21 percent increase in half-year revenue.

The company, which is listed in New York, said it now expects revenue growth in the mid-teens in percentage terms versus previous guidance for low-teens percentage growth.

It also forecast a “solid improvement” in adjusted earnings before interests and taxes (EBIT) having previously spoken only of an improvement.

“While our current performance is strong, including a healthy rebound in the Greater China Region, the global geopolitical and economic outlook remains uncertain,” Chairman and CEO Ermenegildo Zegna said in a statement.

“I am confident that we will remain on track, as we execute our strategy to achieve our new 2022 guidance,” he added.

The family-controlled group, which controls Italy’s luxury menswear brand Zegna and US label Thom Browne, said revenue rose 21 percent to 729 million euros ($729 million) in the first six months of 2022 while adjusted EBIT rose 24 percent to 82.7 million euros.

Learn more:

Zegna Signs Partnership With Spanish Football Club Real Madrid

The Italian luxury menswear brand announced the tie-up, set to launch during the current 2022-2023 season, in a press release Wednesday.

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