Ermenegildo Zegna ignores the luxurious American idleness

Ermenegildo Zegna Group’s sales buck the economic slowdown in North America.

The company’s revenue in the US was 157 million euros ($173) in the first half of 2023, up 26 percent from a year earlier at constant exchange rates, buoyed by the acquisition of fashion company Tom Ford, as well as double-digit growth in Zegna and She said. Thom Browne Thursday.

Earlier this week, sector leader LVMH reported weak sales in America, citing lower demand from ambitious customers. Prada also saw declines in US sales in the first half, according to results released Thursday.

At Zegna, group revenue totaled 903 million euros in the first half, up 24 percent year-on-year. In addition to growth in the United States, the company said rebounding Chinese consumer spending and strong European sales also contributed to the group’s sales boost.

“I am particularly pleased that we have gained market share, and am confident of the strong opportunities that lie ahead as the menswear sector grows globally with existing and new audiences,” said Chairman Gildo Zegna.

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The Ermenegildo Zegna Group is currently experiencing double-digit store growth after reaching €1.5 billion in sales last year. With a slowdown expected in luxury brands, chairman Gildo Zegna told BoF that the recently rebranded menswear giant is well-positioned to outperform.