First quarter of growth for Zegna, revenues at 470.2 million, +7.4% at constant exchange rates

Against all odds: this is the American expression that we could translate as 'in spite of everything'. It fits well with the figures for the first quarter of 2026 the revenues of the Zegna Group (listed in New York) came in at 470.2 million euro, up 2.5% reported and 7.4% at constant exchange rates, driven by an acceleration driven by the retail channel ("direct-to-consumer", DTC) and by the Zegna brand, the group's largest, which grew by 11% (organic). The war in the Middle East and all its effects are a cause for concern, but the hope is that the truce about which there has been persistent talk for some days will soon arrive.

The DTC channel contributed 85% of the group's branded sales in the quarter to €371.9 million, up 14.2% at constant exchange rates, with all three brands growing strongly and accelerating from the previous quarter. Positive performance across all geographic regions, with the Americas continuing to grow at double-digit rates and the Greater China Region (GCR) ending the quarter on an upward trend.

Ermenegildo "Gildo" Zegna, Executive Chairman of the Ermenegildo Zegna Group, commented: "The year 2026 has opened with a positive performance of all our brands. The Group's organic growth of 7% is the result of a long-term strategy, developed over time and now fully implemented with discipline and determination. Our retail-first model continues to deliver tangible results, and led to 14% organic growth in the direct-to-consumer channel, a result supported by all brands and markets. Once again, the Americas stood out, recording another quarter of steadily accelerating double-digit growth. The ZEGNA brand drove the Group's performance, with organic growth of 11%. Thom Browne and Tom Ford Fashion, strengthened their distinctive positioning by engaging new audiences. Looking to the future, our 'think slow, act fast' approach will continue to guide the Group in making thoughtful choices and translating them into swift and effective action, pursuing our vision with rigour, while preserving agility and flexibility. In today's increasingly challenging environment, it is essential to adapt quickly while maintaining a clear focus on long-term objectives