杰尼亚集团2025年营收19.17亿欧元，ZEGNA品牌营收同比增长1.5%

Core Insights - Zegna Group reported preliminary 2025 revenue of €1.917 billion, a decline of 1.5% year-on-year, with organic growth of 1.1% at constant exchange rates [1] Revenue Performance - Fourth quarter revenue reached €591 million, showing a slight increase of 0.3% year-on-year, with organic sales growth of 4.6% at constant exchange rates [1] Channel Performance - Direct-to-Consumer (DTC) channel generated €1.449 billion in revenue for the year, up 4.2% year-on-year, with organic growth of 7.9% at constant exchange rates, accounting for 82% of total revenue [1] - Wholesale channel revenue was €318 million, down 20.9% year-on-year [1] - In the fourth quarter, DTC channel organic revenue grew approximately 10% year-on-year [1] Brand Performance - ZEGNA mainline revenue was €1.182 billion, an increase of 1.5% year-on-year, with organic growth of 4.7% at constant exchange rates [1] - Tom Ford Fashion generated €317 million in revenue, up 0.8% year-on-year [1] - Thom Browne experienced a significant decline, with annual revenue of €268 million, down 14.7% year-on-year [1] Regional Market Performance - The Americas market reported sales of €566.1 million, an increase of 7.9% year-on-year [1] - EMEA market sales reached €683 million, up 0.5% year-on-year [1] - Greater China revenue was €435 million, reflecting a decline of 14.6% year-on-year [1]