#Textiles & Apparel / Garment

2023-09-14

Zegna Group reports strong first-half 2023 financial results

Ermenegildo Zegna N.V. (NYSE:ZGN) (“Zegna Group,” “the Group,” or “the Company”) announced profit of €52.1 million and a profit margin of 5.8% for the six months ended June 30, 2023, off revenues of €903.1 million for the same period, as announced on July 27, 2023. The Group recorded Adjusted EBIT of €119.9 million for the six months ended June 30, 2023, an increase of 45.0% year-over-year compared to €82.7 million in the first six months of 2022, and an Adjusted EBIT Margin of 13.3%, an increase of 200 basis points compared to 11.3% in the first six months of 2022.

Adjusted Profit for the six months ended June 30, 2023, was €54.9 million, an increase of €32.1 million, or 140.5%, compared to €22.8 million for the first six months of 2022.

First Half 2023 profit1of €52.1 million, profit margin of 5.8%, and Adjusted EBIT2 of €119.9 million demonstrate broad-based strength.

Adjusted EBIT Margin2 increased by 200 basis points to 13.3% thanks to a remarkable improvement in ZEGNA store productivity, and despite higher costs for growth.

Group reaffirms its mid-term targets.

Capital Markets Day to be held in New York on December 5, 2023.

Ermenegildo “Gildo” Zegna, Chairman and CEO, said: “Throughout the first half of the year, Zegna Group’s unique capabilities have been on full display, contributing to continued and strong revenue growth. This is particularly evident in the outstanding performance in the United States and EMEA, as we communicated back in July, as well as in our significant progress towards growing profitability. Our performance during this six-month period again confirms the successful execution of our strategy, including our ZEGNA One Brand strategy – which is driving remarkable improvements in productivity across our direct-to-consumer stores, and our commitment to continue investing in marketing and advertising, as well as the expansion of distribution across all our brands. Our Made in Italy Luxury Textile Laboratory Platform, which directly benefit our group brands, continues to be an important part of our growth blueprint.”

“As we progress in the second half of the year, we continue to be extremely attentive on executing our plan, with a major focus on working alongside the new leadership team at TOM FORD FASHION to further develop and position the brand as an icon in ultra-luxury while also supporting the further expansion of the Thom Browne footprint. In this dynamic operating environment, we are encouraged by the strong growth we are seeing in the United States and EMEA but also acknowledge the impact of a milder recovery in Greater China. I am proud of our exceptional leadership team, and we are confident in the steps we have taken to position our portfolio of brands in the more resilient ultra-luxury segment and to strengthen the Group’s own retail network and achieve a more balanced geographical presence. There is rich and exciting potential for the Group’s three brands, and we look forward to continuing to execute our strategy to enhance their performance even further.”

1 Profit refers to profit of the Group (including profit attributable to non-controlling interests).

2 Adjusted Profit, Adjusted EBIT, Adjusted EBIT Margin, Adjusted Diluted Earnings per Share, and Net Financial Indebtedness/(Cash Surplus) are non-IFRS financial measures. See the Non-IFRS Financial Measures section starting on page 11 of this press release for the definition of such non-IFRS measures and a reconciliation of such non-IFRS measures to the most directly comparable IFRS measures.

https://www.businesswire.com/news/home/20230913135111/en/Zegna-Group-Reports-Strong-First-Half-2023-Financial-Results

“Production is a product”

From technical textiles and AI-driven robotics to the limitations of textile circularity: Professor Dr Thomas Gries looks back on more than two decades of development at ITA Aachen. In the interview, he explains why production technology remains a decisive success factor, discusses international collaborations and innovation ecosystems, and shares his views on the transformation of production landscapes and the challenges facing an increasingly regulated industry.

“We need to move away from the price trap and return to a value-driven mindset.”

With its new Textile Innovation Center, KARL MAYER is sending a strong signal for innovation, collaboration, and the future of textile applications. In this interview, Karl Josef Mayer discusses new opportunities in warp knitting, the processing of staple fibres, recycling, the changing role of machinery manufacturers, and why the textile industry must once again focus more strongly on the value of textiles. by Oliver Schmidt

“Innovation, resilience and international experience remain the great strengths of the Swiss textile machinery industry”

Geopolitical uncertainty, growing competitive pressure from China, new free trade agreements and the shift towards a circular economy are currently reshaping the global textile industry. In this interview, Cornelia Buchwalder discusses the current mood within the Swiss textile machinery sector, the industry’s distinctive innovative strength, new market opportunities in India and Asia, and the technological trends that could shape the upcoming trade fair cycle leading up to ITMA 2027.

Première Vision Paris expands innovation focus across fashion and beauty

From September 1–3, 2026, Première Vision Paris will bring together more than 900 exhibitors from across the global fashion value chain. This year's edition places a strong emphasis on Innovation-Tech, highlighting technologies and materials that are reshaping product development, manufacturing and sustainability.

Intertextile Apparel opens next week with strengthened focus on performance, sustainability, and innovation

Opening 25 August at the National Exhibition and Convention Center (Shanghai), Intertextile Shanghai Apparel Fabrics – Autumn Edition 2026 prepares to welcome thousands of global industry players for three days of sourcing, networking, and trend forecasting. Spanning 240,000 sqm, this edition will feature over 3,500 exhibitors from 30 countries and regions, providing a comprehensive platform for fairgoers to explore new products, market directions, and business opportunities across the entire apparel textile value chain – with high-potential segments noticeably magnified.

Asia's fashion extravaganza CENTRESTAGE returns in September

Asia’s premier annual fashion event CENTRESTAGE--organised by the Hong Kong Trade Development Council (HKTDC) and sponsored by the Cultural and Creative Industries Development Agency (CCIDA) of the Government of the Hong Kong Special Administrative Region (HKSAR) will return to the Hong Kong Convention and Exhibition Centre (HKCEC) from 2 to 5 September. One of the flagship programmes of the third "Hong Kong Fashion Fest", CENTRESTAGE will bring together some 270 brands from 24 countries and regions and will feature more than 40 spectacular events, including over 30 fashion shows.

SAITEX reports efficiency gains and greater transparency in 2025 Impact Report

Vietnam-based denim manufacturer SAITEX has published its 2025 Impact Report, documenting progress in resource efficiency, chemical management, digital traceability and knowledge sharing across its manufacturing operations in Vietnam and the United States. Rather than focusing on sustainability ambitions, the report presents operational data, manufacturing developments and lessons learned from the past year.

SHIMA SEIKI to exhibit at Première Vision Paris

Leading digital textile solutions provider SHIMA SEIKI MFG., LTD. of Wakayama, Japan will exhibit at Première Vision Paris in Paris, France next month. The company will exhibit in the "Smart Creation" area, dedicated to showcasing cutting-edge technologies that integrate sustainability and innovation. The knitting expert will be demonstrating solutions that optimize product development workflows and enhance sustainability through proposals in Digital Product Creation (DPC).

ICAC International Seminar in Taipei to explore strategic synergies across the textile supply chain

The International Cotton Advisory Committee (ICAC) — together with the Taiwan Textile Federation (TTF), under the guidance of the Ministry of Economic Affairs and the Ministry of Foreign Affairs of Taiwan — will bring international cotton and textile leaders together in Taipei on September 10 for the ICAC International Seminar 2026.