Ermenegildo Zegna Group’s profit declined to 31.3 million euros in the first half period and adjusted EBIT to 80.9 million euros compared to the previous year.
Revenues for the period of 960.1 million euros, were up 6.3 percent but down 2.7 percent on an organic basis.
Commenting on the trading results, Ermenegildo “Gildo” Zegna, group chairman and CEO, said in a statement: “Even though the overall environment is expected to remain even more challenging, I am confident that our projects and actions are the right ones to unleash the untapped long-term potential of all three of our brands.”
The Zegna brand recorded revenues of 566.1 million euros, up 4.6 percent or 5.9 percent organic growth. Thom Browne revenues were 166.7 million euros, down 19.4 percent or down 26.7 percent organic.
Tom Ford Fashion recorded 148.5 million euros of revenues, up 132 percent or 4.7 percent organic and textile revenues were 71.8 million euros, down 1.7 percent or 0.6 percent organic.
Gross profit increased to 637.4 million euros with a gross profit margin of 66.4 percent and the group reported an operating profit of 73.1 million euros compared to 116.5 million euros in the six months of 2023.
