Ermenegildo Zegna Group Reports FY 2025 Revenues1 of €1,917 Million, With an Improvement in Q4 Driven by DTC at the ZEGNA Brand

Core Insights - Ermenegildo Zegna Group reported FY 2025 revenues of €1,917 million, a decrease of 1.5% YoY, but an increase of 1.1% on an organic basis, with Q4 revenues reaching €591 million, up 0.3% YoY and 4.6% organic [1][2][3] Revenue Analysis - FY 2025 revenues by brand: - ZEGNA brand: €1,181.6 million (+1.5% YoY, +4.7% organic) - Thom Browne: €268.5 million (-14.7% YoY, -12.2% organic) - TOM FORD FASHION: €317.1 million (+0.8% YoY, +3.1% organic) [1][2] - Q4 2025 revenues by brand: - ZEGNA brand: €361.7 million (+2.4% YoY, +7.4% organic) - Thom Browne: €91.1 million (-3.7% YoY, +1.4% organic) - TOM FORD FASHION: €98.3 million (-2.3% YoY, +1.5% organic) [1][2] Distribution Channel Performance - Direct-to-Consumer (DTC) revenues for FY 2025 were €1,449 million (+4.2% YoY, +7.9% organic), with Q4 showing +3.9% YoY and +9.6% organic growth [1][2] - Wholesale branded revenues for FY 2025 were €318.1 million (-20.9% YoY, -20.2% organic), with Q4 at €96.9 million (-12.9% YoY, -11.6% organic) [1][2] Geographic Revenue Breakdown - EMEA revenues for FY 2025: €683.8 million (+0.5% YoY, +1.4% organic), representing 36% of total revenues [1][2] - Americas revenues for FY 2025: €566.1 million (+7.9% YoY, +12.0% organic), representing 30% of total revenues [1][2] - Greater China revenues for FY 2025: €435.2 million (-14.6% YoY, -11.9% organic), representing 23% of total revenues [1][2] Leadership Changes - A new leadership structure was announced, effective January 1, 2026, with Ermenegildo "Gildo" Zegna as Group Executive Chairman and Gianluca Tagliabue as Group CEO, alongside Edoardo and Angelo Zegna as Co-CEOs of the ZEGNA brand [2][3]