Financial Data and Key Metrics Changes - In Q1 2024, group revenues reached €463 million, an increase of 8% year-over-year, and 11% when excluding a 3 percentage point negative currency headwind. On an organic basis, revenues were down 5% [17][18][21] - The Thom Browne segment revenues declined by 30% reported and 35% on an organic basis, driven by a challenging comparison with Q1 of the previous year and the decision to streamline the wholesale channel [18][19] - Direct-to-consumer (DTC) channel grew by 20% year-over-year, or 3% organic, contributing positively to group performance [21] Business Line Data and Key Metrics Changes - Zegna brand recorded a solid 7% organic growth, with strong contributions from the Triple Stitch shoe family and the Second Skin drop [27][40] - The textile product line showed a flattish performance with a -1% organic change, reflecting cautious outlook in the B2B sector [20][61] - TOM FORD FASHION generated €65 million in revenue, with initial positive signs from new collections introduced in February [41][62] Market Data and Key Metrics Changes - In the Americas, organic growth was strong at 10%, with the U.S. market showing outstanding double-digit performance [67] - Greater China region revenues declined by 13% organic, with Thom Browne significantly below this mark, while Zegna experienced a single-digit decline [67] - EMEA recorded a negative 6.5% organic growth, primarily due to Thom Browne's performance, while Zegna showed double-digit positive growth in both channels [44] Company Strategy and Development Direction - The company is focusing on enhancing Thom Browne's long-term value by reducing exposure to the wholesale channel and taking direct control of operations [7][8] - The one brand strategy is being emphasized, particularly in China, where the company aims to build a strong brand foundation [10][14] - The company is actively working on brand awareness and client experience, with significant events planned to engage customers [31][36] Management's Comments on Operating Environment and Future Outlook - Management noted a normalization phase in the Chinese market post-COVID, with cautious consumer outlook, especially among aspirational clients [23][27] - The company remains confident in its long-term growth strategy, despite short-term challenges in the luxury sector [26][67] - Management is taking measures to protect the bottom line on the cost side without compromising the long-term health of the brand [127][133] Other Important Information - The company opened 24 net new stores in Q1, with a significant number converted from wholesale to retail in Korea [70] - The company won the Fuorisalone Award of Sustainability during the Salone Del Mobile event in Milan, highlighting its commitment to sustainability [34] Q&A Session Summary Question: Trends by consumer nationality for Zegna DTC - Management indicated that Chinese consumer spending is down mid-single-digit year-over-year, while European demand is solid with double-digit growth across markets [52][54] Question: Impact of marketing strategies on brand exclusivity - Management emphasized the importance of balancing exclusivity with broader audience engagement, citing successful events in Milan as a model for future marketing efforts [57][88] Question: Expectations for tourism from China - Management expects a solid return of Chinese tourists in key markets, particularly in Japan and Europe, with a focus on enhancing customer experiences [119][124]

Financial Data and Key Metrics Changes - Group revenue for 2023 reached €1.9 billion, up 28% and up 19% on an organic basis [29] - Adjusted EBIT reached €220 million with an adjusted EBIT margin of 11.6%, an increase of 100 basis points from 2022 [29][67] - Net profit more than doubled compared to 2022 [29] Business Line Data and Key Metrics Changes - Zegna brand generated €1.3 billion in revenues with an adjusted EBIT margin of 14.6% [68] - Thom Browne revenue reached €380 million, with a 15.5% adjusted EBIT margin, supported by a 20% organic growth in the DTC channel and a 15% organic growth in wholesale [69] - TOM FORD FASHION contributed €235 million in revenues since its acquisition [45] Market Data and Key Metrics Changes - The Americas and EMEA markets are leading in the Zegna One brand strategy, with positive signs in Greater China despite challenges [32] - Demand for high-end products in Greater China is strong and improving [32] - The wholesale business is expected to remain flat, with a focus on direct-to-consumer channels [10] Company Strategy and Development Direction - The company aims to streamline wholesale distribution and enhance direct-to-consumer channels, targeting a 70-30 split for brands [12] - Continued investment in sustainability and renewable energy, with 97% of energy used in European operations coming from renewables [30] - Focus on expanding retail presence and improving store productivity [40] Management Comments on Operating Environment and Future Outlook - Management acknowledges that 2024 will be a transition year with some volatility expected, particularly in Greater China [40][76] - Confidence in achieving revenue targets for 2024, with a focus on customer connection and product confidence [77] - The company is committed to enhancing brand equity and customer engagement through targeted marketing and store openings [40] Other Important Information - The acquisition of TOM FORD FASHION is seen as a significant addition to the portfolio, with plans for expansion in the linen wear and leather goods segments [36] - A new center for excellence in Parma is being developed to enhance luxury shoe production and R&D [39] Q&A Session Summary Question: Performance of Chinese consumers in 2024 - Management acknowledges challenges but remains positive about mid-term prospects, emphasizing the need for relationship-driven customer engagement [85][86] Question: Guidance for Q1 and impact of wholesale on Thom Browne - Thom Browne wholesale revenues are expected to decline high double digits, influenced by timing in deliveries and a strategic decision to streamline distribution [93][94] Question: EBIT margin expansion expectations - Management indicates that 2024 will be a foundational year for TOM FORD, with expectations for accelerated growth in EBIT in subsequent years [98]

Financial Performance - Revenue increased by 15% year-over-year, driven by strong sales in the North American market [1]. - Net profit margin improved to 12%, up from 10% in the previous quarter [2]. - Operating expenses rose by 8%, primarily due to increased marketing and R&D investments [3]. Market Expansion - The company successfully entered the European market, with initial sales exceeding expectations [4]. - A new distribution center was opened in Asia to support growing demand in the region [1]. - Strategic partnerships were formed with local retailers to enhance market penetration [2]. Product Development - Launched three new products in the tech segment, which contributed significantly to Q3 revenue [3]. - R&D investment increased by 20% to accelerate innovation and product differentiation [4]. - Customer feedback on the new product line has been overwhelmingly positive, with a 95% satisfaction rate [1]. Operational Efficiency - Implemented new supply chain management software, reducing delivery times by 15% [2]. - Streamlined manufacturing processes, resulting in a 10% reduction in production costs [3]. - Employee training programs were expanded, leading to a 25% improvement in operational efficiency [4]. Strategic Initiatives - Announced a new sustainability initiative aimed at reducing carbon emissions by 30% over the next five years [1]. - The company is exploring potential acquisitions to diversify its product portfolio [2]. - A new corporate governance framework was introduced to enhance transparency and accountability [3]. Customer Engagement - Customer retention rates improved to 90%, up from 85% last year [4]. - Launched a new loyalty program that has already attracted over 100,000 members [1]. - Enhanced customer support services, resulting in a 20% reduction in complaint resolution time [2].

Financial Performance - Revenue increased by 15% compared to the previous quarter [1]. - Net profit margin improved to 12%, up from 10% last year [2]. - Operating expenses rose by 8% due to increased marketing efforts [3]. Market Expansion - The company entered two new international markets in Asia and Europe [4]. - Market share in the domestic market grew by 3% [5]. - A new partnership was established with a leading distributor in South America [6]. Product Development - Launched three new products in the tech segment [7]. - R&D investment increased by 20% to support innovation [8]. - Customer feedback on the new product line has been overwhelmingly positive [9]. Operational Efficiency - Implemented a new ERP system to streamline operations [10]. - Reduced production costs by 5% through process optimization [11]. - Employee productivity improved by 12% following training programs [12]. Strategic Initiatives - Announced a new sustainability initiative to reduce carbon footprint by 25% [13]. - Acquired a smaller competitor to enhance market position [14]. - Signed a long-term contract with a key supplier to ensure stable raw material costs [15]. Customer Engagement - Customer satisfaction scores reached an all-time high of 92% [16]. - Launched a loyalty program that has already attracted 50,000 members [17]. - Social media engagement increased by 30% due to targeted campaigns [18]. Risk Management - Identified potential supply chain disruptions and implemented contingency plans [19]. - Increased cybersecurity measures to protect customer data [20]. - Conducted a comprehensive risk assessment to mitigate financial risks [21].

Ermenegildo Zegna N.V. (NYSE:ZGN) 2023 Full Year Preliminary Revenues Call January 31, 2023 8:00 AM ET Company Participants Francesca Di Pasquantonio - IR Gildo Zegna - Chairman & CEO Gianluca Tagliabue - CFO & COO Rodrigo Bazan - CEO, Thom Browne Conference Call Participants Anthony Charchafji - BNP Paribas Chris Huang - UBS Louise Singlehurst - Goldman Sachs Operator Good morning or good afternoon, all. Welcome to the Ermenegildo Zegna Group 2023 Fiscal Year Preliminary Revenues Call. My name is Adam, and ...

Summary of Ermenegildo Zegna N.V. 2023 Full Year Preliminary Revenues Call Company Overview - **Company**: Ermenegildo Zegna N.V. (NYSE: ZGN) - **Date of Call**: January 31, 2023 - **Participants**: Gildo Zegna (Chairman & CEO), Gianluca Tagliabue (CFO & COO), Rodrigo Bazan (CEO, Thom Browne) Key Industry Insights - **Luxury Menswear Market**: Zegna is transitioning from being the leading player in luxury menswear to expanding into other soft luxury categories, indicating a broader market opportunity with a total addressable market three times larger than before [5][6] - **Growth Strategy**: The company aims for over 10% compounded annual revenue growth and a 20% adjusted EBITDA growth rate, with 2023 as the base year [9][11] Financial Performance Highlights - **Fourth Quarter 2023 Revenue**: EUR 570 million, a 40.1% increase from Q4 2022, with organic growth of 19.6% [11][18] - **Full Year 2023 Revenue**: EUR 1.9 billion, a 27.6% increase from 2022, with 19.3% organic growth [11][17] - **Brand Performance**: - Zegna segment revenues: EUR 1.3 billion, 19.5% organic growth [20] - Thom Browne segment revenues: EUR 380 million, 17.8% organic growth [23] - Tom Ford Fashion segment revenues: EUR 236 million since acquisition [23] Geographic Performance - **Asia**: Q4 revenues of EUR 241 million, a 39% increase year-over-year, with a strong rebound in Greater China [24][25] - **North America**: Full year revenues of EUR 417 million, a 41.6% increase, with Q4 revenues of EUR 132 million, a 60% increase [27][28] - **EMEA**: Full year revenues of EUR 659 million, a 26.6% increase [25][26] Product and Channel Insights - **DTC Channel**: DTC revenues reached EUR 1.25 billion, a 37% increase, making up 66% of total revenues [35] - **Product Mix**: Zegna branded products contributed 58% of group revenues, with luxury leisure wear making up about 50% of Zegna's revenues [31][32] Strategic Initiatives - **Direct-to-Consumer Strategy**: The company is focusing on increasing direct control over its brand, as seen with the internalization of Thom Browne's South Korean operations [13][20] - **Merchandising Strategy**: A shift from seasonal deliveries to a monthly cadence to enhance store inventory [22] Challenges and Outlook - **Market Challenges**: The company acknowledges challenges in the global operating environment but remains optimistic about its diversified brand portfolio and market share growth opportunities [10] - **Future Expectations**: The company expects to maintain strong growth momentum, with a focus on enhancing brand desirability and expanding its store network [42][43] Additional Insights - **Technological Investments**: Investments in technology, such as Zegna X, are aimed at improving customer engagement and operational efficiency [15][32] - **Brand Events**: Upcoming fashion shows for Thom Browne and Tom Ford Fashion are expected to enhance brand visibility and consumer engagement [15] This summary encapsulates the key points from the Ermenegildo Zegna N.V. 2023 Full Year Preliminary Revenues Call, highlighting the company's performance, strategic direction, and market outlook.

MILAN--(BUSINESS WIRE)--Ermenegildo Zegna N.V. (NYSE:ZGN) (“Zegna Group,” the “Group,” “Zegna,” or the “Company”), owner of the ZEGNA and Thom Browne brands and exclusive licensee for the Tom Ford Fashion business, today announced preliminary unaudited revenues of €1.9 billion for the full year 2023, up 27.6% year-over-year and up 29.7% year-over-year on a constant currency basis3, with an organic growth rate of 19.3%. Revenues for the fourth quarter of 2023 were €570 million, up 40.1% year-over-year and up ...

Pietro S. D'Aprano/Getty Images EntertainmentErmenegildo Zegna (NYSE:ZGN) (in the following "Zegna") is a fast-growing luxury platform built on the Zegna brand and currently in the hands of the third generation of the founding family. With its origins in the beautiful "Oasi Zegna", the company has created a luxury textile platform through various acquisitions of specialized workshops that preserve the quality of the "Made in Italy" label. While operating results in 2023 were promising, shareholders were ...

Ermenegildo Zegna N.V. (NYSE:ZGN) Q3 2023 Earnings Conference Call October 24, 2023 8:00 AM ET Company Participants Francesca Di Pasquantonio - Investor Relations Gildo Zegna - Chairman and Chief Executive Officer Gianluca Tagliabue - Chief Financial Officer and Chief Operating Officer Rodrigo Bazan - Chief Executive Officer, Thom Browne Conference Call Participants Susy Tibaldi - UBS Matthew Garland - Deutsche Bank Adrien Duverger - Goldman Sachs Anthony Charchafji - BNP Paribas Operator Hello and thank yo ...

Ermenegildo Zegna N.V. Semi-Annual Report At June 30, 2023 and for the six months ended June 30, 2023 and 2022 Exhibit 99.1 TABLE OF CONTENTS | | Page | | --- | --- | | BOARD OF DIRECTORS | 2 | | CERTAIN DEFINED TERMS | 2 | | INTRODUCTION | 3 | | CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS | 4 | | MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 6 | | Overview | 6 | | Results of Operations | 8 | | Results by Segment | 18 | | Liquidity and Capital Resources | 2 ...