H1 2025 Financial Performance - Group revenues reached €928 million, a decrease of 3% year-on-year (YoY) and 2% on an organic basis[27] - Q2 revenues amounted to €469 million, reflecting a 6% YoY decrease and a 3% organic decline[27] - ZEGNA brand revenues, constituting 61% of H1 Group revenues, increased by 2% organically, driven by the DTC channel[33] - Thom Browne brand revenues, accounting for 14% of H1 Group revenues, experienced a 24% organic decrease due to wholesale channel streamlining[33] - TOM FORD FASHION brand revenues, representing 16% of H1 Group revenues, grew by 4% organically, propelled by the DTC channel[33] Segment Performance - Zegna segment showed positive performance, boosted by the ZEGNA brand, while the textile division contracted[28] - Thom Browne segment's revenue was impacted by the strategic decision to streamline the wholesale business[28] - Tom Ford Fashion (TFF) segment's revenues were driven by strong double-digit organic growth in the DTC channel[28] Channel Performance - DTC revenues reached €353 million, showing an 8% organic increase, with growth accelerating across all three brands, particularly ZEGNA[42] - Wholesale branded revenues decreased by 33% organically, reflecting a strategic focus on the DTC channel for each brand, especially Thom Browne[42] Geographic Performance - EMEA revenues declined by 2% organically, influenced by wholesale performance in the region[38] - Americas revenues demonstrated strong organic growth of 10%, driven by solid DTC channel results, particularly for ZEGNA and Thom Browne[38] - Greater China Region (GRC) revenues decreased by 17% organically, due to the wholesale channel[38]